Wipro’s PremjiInvest funds Startup Company Amagi Media Labs Pvt Ltd. The Bengaluru based company facilitates geographic targeting of television ads.
Amagi Media Labs Pvt Ltd was founded in 2008 by ex IIM Alumni K A Srinivasan, Baskar Subramanian and Srividhya Srinivasan. The company USP is to buy airtime from broadcasters to facilitate geo targeted advertising and cloud based content delivery.
The company has built technology platform called ‘Cloudport Platform’ where they can target audience for an advertisement to be broadcasted in particular region. For Ex: If there is a festival celebrations like Pongal, advertisement such as jewels and sarees can be broadcasted in areas of Tamil Nadu or viewers in Mumbai and Delhi will watch different advertisements during telecast of cricket match.
Amagi Media Labs Pvt Ltd has very reputed clientele like Hindustan Unilever, Britannia, Wipro and Reckitt & Benckiser. The company also works with many television channels like Zee TV, NDTV and few others. Amagi Media Labs has forayed into international market, tied up with Horse & Country TV, a pioneer in telecast of equestrian sports and lifestyle channel telecasts in the UK, Netherlands, Sweden and few other European countries through various mediums like cable, satellite and Internet Protocol Tele Vision (IPTV).
In India, reputed Telugu television network MAA Television Network uses Amagi Media Labs platform to broadcast ‘MaaTV’ and ‘Maa Movies’ channels in Singapore from April 2013.
The trio founders of Amagi Media Labs Pvt Ltd had founded another startup company called Bluetooth audio solutions provider Impulsesoft which was sold to Sirf Technology, a NASDAQ listed company.
“Newspapers, magazines, radio, billboards and internet have unbundled advertising. So TV is an anomaly in this regard,” said Srinivasan. He further added “the opportunity is seen to be huge given to the regional advertising market for both print and electronic was Rs. 6,500 crores last year, a 25-30% jump over 2013. We have created the equivalent of local editions on TV.”
Srinivasan says “No big move in video has happened since YouTube. Creating personalized advertisement present a huge opportunity.”
Initially the company was incubated in NSRCEL at Indian Institute of Management, Bengaluru. Amagi Media raised $ 12 million from Nadathur Investments, Ojas Ventures and Mayfield Fund. They have received 2 rounds of funding Series A and Series C from the existing venture capitalists.
The company received another funding of $ 15 million from Premji Invest, the family investment arm of Wipro’s Chairman Azim Premji who is also investor of Mayfield Fund. The funding will be utilised to expand Amagi’s footprint in international presence. Recently this 110 people strong company has ventured into Japanese market.
“At this stage in our development, it is critical that we get the right investors on board whose vision matches ours and in this respect we are extremely pleased to have PremjiInvest associate with us,” Amagi Media co-founder Baskar Subramanian said.
Atul Gupta, principal, PremjiInvest joined the board of Amagi Media Labs.