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PremjiInvest leads Series C round for India's Amagi Media Labs

  • Andrew Woodman
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PremjiInvest has led a Series C round of funding for Amagi Media Labs, a Bangalore-based firm that facilitates targeted television advertising based on geography.

The size of the investment was not disclosed but previous reports by VCCircle put the round at $15 million. The business was set up in 2008 by Baskar Subramanian and Srividhya Srinivasan who also co-founded bluetooth audio solutions provider Impulsesoft, which was later acquired by NASDAQ-listed SiRF.

Amagi supports geographical targeting of television advertisements by ensuring TV veiwers watching the same channel in different regions get to see different ads. The business also has its "cloudport platform," which enables broadcasters to deliver localised feeds across geographies using satellites.

The company claims to have more than 2,500 advertisers and has partnered with UK equestrian sports and lifestyle network Horse & Country TV, which broadcasts in the UK, Ireland, Netherlands, Sweden and Malta.

According to AVCJ Research, this is Amagi's fourth round of funding. The company first raised $3 million from Ojas Ventures and Wondergrass in early 2010; this was followed by a $5.46 million round led by Nadathur Holdings a year later; Nadathur then returned in 2013 alongside Ojas to invest an undisclosed alongside Mayfield India.

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