According to the company’s latest filing with the Registrar of Companies (RoC), its board has passed a special resolution to issue 3,35,854 Series F compulsory convertible preference shares (CCPS) at an issue price of Rs 19,505.5 per share to raise Rs 655 crore or $79 million.
General Atlantic will also acquire 1,12,374 equity and preference shares worth Rs 220 crore, or $26 million, through a secondary deal, taking the total funding round to $105 million.
The development was first reported by Entrackr.
This will be the second round of funding for Amagi in 2022. The SaaS startup had turned unicorn after raising $95 million in a funding round led by venture capital firm Accel in March this year. Unicorn is a term used to describe a startup company with a value of over $1 billion.
The financing round also saw participation from Norwest Venture Partners and Avataar Ventures, the Bengaluru-headquartered startup said in a statement.
Amagi is a media technology company that provides cloud broadcast and targeted advertising solutions to broadcast TV and streaming TV platforms. The company enables content owners to launch, distribute and monetise live linear channels on free ad-supported streaming TV and video services platforms. It also offers 24×7 cloud-managed services bringing simplicity, advanced automation, and transparency to the entire broadcast operations.
Overall, Amagi claims to support 650+ content brands, 800+ playout chains and over 2,000 channel deliveries on its platform in over 40 countries.
In a statement earlier this year, Amagi said that it is evaluating M&A opportunities that can contribute to revenue growth or add technology capabilities to its product lines.