LONDON — Indian digital comics and animation creator Graphic India has raised $2.8 million in its latest seed-financing exercise.
The financing was led by CA Media, the Asian investment arm of Peter Chernin’s the Chernin Group that had acquired a stake in Graphic India in 2013, and New York-based Start Media. Other investors in the seed-financing include Julian Farrior and Dale Thoms, founders of Backflip Studios.
The financing will be used to create content in English, Hindi, Tamil and other Indian languages for Indian youth to consume on their mobile devices. India has more than 850 active mobile connections and 550 million people under the age of 25.
This round of financing follows the $2.5 million raised initially by CA Media.
Graphic’s character “Chakra the Invincible,” created with Stan Lee, launched on Cartoon Network India and was made available worldwide through the Angry Birds app on Rovio’s ToonsTV.