Rajesh Kamat and Paul Aiello’s Asian investment group, Emerald Media has bought a significant minority stake in India-based broadcast technology firm Amagi Media Labs. Emerald is backed by global investment giant KKR.
Other investors in a $35 million Series D funding round include Premji Invest, Mayfield India and Nadathur Holdings.
“The growth capital from this round of funding will enable Amagi 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 networks,” the companies said in a prepared statement.
Based in Bengalaru (formerly Bangalore,) New York, London, and Hong Kong, Amagi provides targeted TV advertising and cloud-based TV infrastructure. The cloud technology allows broadcasters to operate a complete workflow and deliver content to traditional satellite and cable platforms or to OTT players. Its ad servers provide over a million advertising seconds per month in 30 countries.
“Amagi has harnessed the transformative power of technology (both hardware and software) to change the way TV networks and brands perceive content delivery and monetization. Their cutting-edge technology is disruptive and the need of the hour,” said Kamat.
Kamat was previously MD of Endemol India, CEO of Colors and then COO of Viacom 18 and later COO of Chernin, before Emerald. Aiello was previously head of STAR TV in Hong Kong. Premji is the billionaire chairman of the Wipro IT group.