Stripes Group leads $81m round for India's Bigtree Entertainment

It represents the company's fourth and largest financing round, attracting participation by all existing investors including VC Accel Partners and Indian media group Network 18. SAIF Partners also contributed to the investment after leading a $25 million round in 2014.

The capital will be used to roll out exclusive entertainment services on BookMyShow as part of an effort to enhance customer experience and expand the company's market penetration. It comes as Bigtree begins growing internationally via vehicles such as BookMyShow Indonesia.

"With a ubiquitous and trusted brand and a history of capital efficient growth, BookMyShow is truly a standout story," Dan Marriott, managing partner for Stripes, said in a statement. "Already the clear leader in movie and live event ticketing, BookMyShow is uniquely positioned to tap into India's digital advertising and entertainment markets, which are among the fastest growing globally."

Bigtree established India's first entertainment ticketing company in 1999 with the aid of an investment by Chase Capital Partners (which ultimately became Unitas Capital). It services cinemas, event organizers and end consumers through call centers and internet and mobile ticketing platforms. BookMyShow is the country's largest online entertainment ticketing platform and is in use in more than 350 towns and cities.

Stripes makes growth capital investments in a range of $10-100 million across the internet, software, healthcare, IT and branded consumer products sectors.

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• Topics
• South Asia
• Consumer
• Media
• Expansion
• Technology
• India
• USA
• Venture
• SAIF Partners
• Accel Partners
• Growth capital