Nadathur Group-backed Start-up Amagi Expands Operations To 35 Cities
Four-year-old start-up Amagi Media Labs, a company that facilitates geographic targeting of television advertisements, has expanded its presence in India and is now operating in 35 cities including the metros. The company claims that nearly 400 small and medium scale businesses have used its platform to buy ad-spots on TV.
Last August, Aamagi raised Rs 25 crore($5 million) from the Nadathur Group, an investment firm founded by Infosys' co-founder NS Raghavan. With this, the firm has so far raised Rs 37 crore. Nadathur has invested in all its three rounds of fund-raising.
IIT Bombay alumnus Subramanian and Srinivasan were colleagues at Texas Instruments before founding Impulsesoft Pvt. Limited. But in 2008, SiRF (a NASDAQ listed semiconductor firm based in the USA) acquired Impulsesoft.
Amagi has partnerships with 15 satellite TV channels and 50 cable MSOs. The company competes with SureWaves and (Rediff owned) Vubites â€“ allow local, city based advertisers to buy ad spots on TV channels in India, which increases monetisation for Multi System Operators (MSOs) and television channels.
In a recent report at Exchange4Media, Amagi had said it has reported an increase of 425 per cent in its business and added that it has brought in nearly 300 advertisers in different categories like education, jewellery, apparel, real estate, FMCG, white goods and auto dealerships in the past six months.