The Ad:tech company had raised Rs 10 cr in the previous round in 2011.
The company allows television advertisers greater freedom to choose its demographic using their cloud based platform.
Rajendra Khare, who built and sold semi conductor startup Armedia Labs to Broadcom for $67 mn founded the company along with Anant Kansal the co-founder of Baysoft, Mandar Patwardhan and Tapan Datta an advertising executive.
SureWaves works in the same areas as Amagi, a startup that lets local advertisers to buy spots on premium national television channels that will be played only in chosen cites. Amagi raised $5.5 million from Mayfield Fund and existing investors last year.