Bangalore-based Amagi Media Labs Pvt Ltd, a company which facilitates geo-targeting of television advertisements, is looking to raise Rs 165 crore ($25.1 million) in its Series D round of funding, the Economic Times reported citing the company’s top executive.
The company will use the money for its expansion plans in India and abroad and is expected to close the deal in next couple of months.
“Amagi has had initial talks with various VCs and is expected to raise money from its existing investors also,” said Bhaskar Subramaniam, one of the founders of Amagi.
Earlier this year, Amagi raised an undisclosed amount in Series C round from PremjiInvest, the personal investment vehicle of Wipro chairman Azim Premji.
Prior to that in June 2014, the company had raised Rs 31.25 crore ($4.7 million) in funding from Mayfield, a global venture capital firm. Nadathur Group also participated in the round.
Founded in 2008, Amagi provides cloud-based content delivery and monetisation platforms, products, and technology to TV networks globally. The company operates through its offices in New York City, London, Tokyo and Singapore, and planning to expand into US and UK markets.
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