Amagi completes funding round
January 20, 2015
Amagi, the expert in cloud-based TV broadcast infrastructure and content regionalisation platforms, has announced their next round of investment from Premji Invest, a $2 billion PE fund and their existing investor Mayfield.
Premji Invest is the investment arm of Azim Premji, chairman of multi-billion dollar IT giant Wipro. Atul Gupta, principal in Premji Invest, has been appointed as an additional director on Amagi’s board. Prior to this round, Amagi had raised $12 million from Nadathur Holdings and Mayfield.
Amagi has been rapidly expanding its international footprint, catering to the unique needs of global TV networks through its path-breaking cloud-based channel playout, regionalisation, OTT and monetisation platforms. Amagi has deployments in over 15 countries across five continents. The company originally launched its geo-targeted TV advertisement platform in India and quickly grew to be India’s largest Ad network, selling over a million Ad seconds every month. Buoyed by its success, Amagi launched its pioneering channel playout and regionalization platforms using cloud technologies as a viable and cost-effective alternative to traditional TV broadcast. Amagi holds multiple patents in this domain and has over 4,000 of its edge servers installed globally.
“At Amagi, we have changed the game by drastically reducing capital investments for launching new TV channels. Using our cloud technologies, clients launch new channels and regionalize their existing satellite feeds at a fraction of traditional costs. Now, with the backing of our large PE investors, we are well capitalised to leverage the transition of TV broadcasting industry to the cloud” said Baskar Subramanian, co-founder, Amagi.