Emerald Media, a Pan-Asian platform established by global investment firm KKR, has acquired a significant minority stake in Bangalore-based media technology company Amagi Media Labs.
Emerald, along with Premji Invest, the investment arm of Azim Premji, is participating in the combination of primary and secondary $35 million Series D round. Prior to this round, Amagi has raised $25 million from Premji Invest, Mayfield India, and Nadathur Holdings.
Headquartered in Bangalore with offices in New York City, London, and Hong Kong, Amagi is a media technology company providing cloud-based managed broadcast services and targeted advertising platforms to customers worldwide.
“Emerald Media has a strong understanding of the TV Broadcast industry and the OTT space and we are very happy to partner with them. Their domain expertise and regional and global media relationships will help us further leverage the transition of the TV broadcasting industry to the cloud and expand our international footprint,” said Baskar Subramanian, Co-founder of Amagi.
The capital raised will help the company to expand its targeted advertising platforms globally, enter new international markets for its cloud-based managed broadcast services and introduce a host of products to cater to the various needs of TV broadcasters and OTT (over-the-top) networks.