Mumbai — Emerald Media, the Pan-Asia company backed by leading global investment firm KKR for investing in the media and entertainment sector, announced that it has acquired a significant minority stake in Amagi Media Labs (‘Amagi’), the leader in targeted TV advertising and cloud-based TV broadcast infrastructure.

Premji Invest, the investment arm of Azim Premji, (an existing shareholder) is also participating in this combination of primary and secondary US$35 million Series D round. Mayfield India and Nadathur Holdings will continue to remain invested in the Company.

Headquartered in Bengaluru with offices in New York City, London, and Hong Kong, Amagi is a next-generation media technology company providing cloud-based managed broadcast services and targeted advertising platforms to customers, worldwide. Amagi enables TV networks to create a complete broadcast workflow on the cloud and deliver content over satellite, cable, IPTV or OTT (Over-The-Top) platforms. Using Amagi’s patented technologies, advertisers can target audiences at a regional level across traditional TV and OTT multiscreen platforms. Amagi has today scaled up to be one of India’s largest TV ad networks, playing around a million ad seconds every month on premium TV channels. With numerous installations of Amagi’s playout and edge insertion servers around the world, they are already a global force in the broadcasting technology domain. Amagi has deployments in over 30 countries for leading TV networks and is India’s largest TV Ad network supporting more than 3,000 brands.

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.

Prior to this round, Amagi has raised US$25 million from Premji Invest, Mayfield India and Nadathur Holdings.