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Tag: Premji Invest

  • Amagi files for Rs 1,020 crore IPO to boost tech and cloud expansion

    Amagi files for Rs 1,020 crore IPO to boost tech and cloud expansion

    MUMBAI: Clouds, cash, and content Amagi’s IPO play is streaming towards Dalal Street. Amagi Media Labs, the Bengaluru-based SaaS powerhouse fuelling global streaming, has filed its draft red herring prospectus (DRHP) with SEBI for a blockbuster IPO combining fresh equity of up to Rs 1,020 crore and an offer for sale (OFS) of 3.41 crore equity shares.

    The fresh issue will fund Rs 667 crore in tech and cloud infrastructure, while also financing future acquisitions and corporate purposes. The IPO will also give early backers including Premji Invest, Norwest Venture Partners, Accel, and Avataar Ventures, a chance to partially exit via the OFS route.

    Founded in 2008 by Baskar Subramanian, Srividhya Srinivasan, and Arunachalam Srinivasan Karapattu, Amagi has emerged as a global player in the Media & Entertainment (M&E) technology landscape. Its AI-powered, cloud-native platform supports content providers, OTT distributors, and advertisers in uploading, managing, and monetising video content whether it’s on smartphones, smart TVs, or streaming platforms.

    Today, Amagi works with over 45 per cent of the top 50 listed media and entertainment companies by revenue, cementing its position as the go-to “industry cloud” for streaming.

    The company is structured into three verticals Cloud Modernisation, Streaming Unification, and Monetisation & Marketplace serving television networks, film studios, production houses, telecom operators, OTT giants, and advertising platforms.

    Financially, the company is turning the corner with impressive top-line growth. In FY25, Amagi clocked Rs 1,162 crore in revenue from operations, posting a CAGR of 30.70 per cent from FY23 to FY25. Even more notably, its adjusted EBITDA margin turned positive at 2.02 per cent, bouncing back from -17.69 per cent in FY24 and -20.62 per cent in FY23, a strong indicator of improved operational leverage.

    Amagi may also explore a Pre-IPO placement of up to Rs 204 crore, which would reduce the fresh issue proportionally.

    Leading the IPO charge are Kotak Mahindra Capital, Goldman Sachs India, Citigroup Global Markets, IIFL Capital, and Avendus Capital, with the listing proposed on both the BSE and NSE.

    For a company that started out serving satellite TV channels, Amagi has now become a global cloud-streaming disruptor poised to write its next big chapter on India’s public markets. With video streaming only growing and cloud infrastructure becoming critical, Amagi’s IPO could be the signal investors have been waiting to tune into.

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  • Pyxis One raises $17 million in series B funding

    Pyxis One raises $17 million in series B funding

    Mumbai: Pyxis One, a California-based tech startup that aims to revolutionise marketing and consumer intelligence by providing an all-in-one, codeless AI platform, has closed $17 million in series B funding. With total funding of $24 million, the company plans to use this round of capital for investments in product development and to expand to new markets.

    Celesta Capital and Premji Invest have co-led the round with participation from previous investors Chiratae Ventures, pi Ventures, and Exfinity Venture Partners. “Every enterprise is either already rearchitecting themselves to adopt AI, or are dependent on one or more AI-driven platforms,” said Premji Invest partner Atul Gupta. “Pyxis One stands out by helping consumer-first enterprises adopt AI for their marketing and business growth without having to disrupt the business at all.”

    Pyxis One enables enterprises to scale accurate data-driven marketing. The startup’s codeless AI ecosystem comprises dozens of AI models deployed across different aspects such as targeting, optimisation, creative recommendation, and consumer research, enabling a complete ecosystem that can help teams collaborate, and leverage capabilities enabled by the adoption of AI.

    “Modern businesses are looking to use advanced elements of artificial intelligence and machine learning to deliver targeted and effective marketing,” said Celesta Capital founding managing partner Sriram Viswanathan. “These capabilities are important for enterprises looking to benefit from next-generation marketing technologies. Pyxis One’s platform delivers on this promise, and we are delighted to back this team to realise this potential.”

    The company is looking to add over 200 AI models to the AI infrastructure over the next two years. These AI models are trained with billions of cross-industry data points that brands from every industry can utilise. The platform also future-proofs AI structure and deployment to inherit new models and customise them without any rework.

    “Marketing can become 10 times more efficient if every team that plays a role in appealing to consumers can collaborate and work together using precise AI-driven insights,” said Pyxis One global CEO Shubham A Mishra. “With AI’s agility and scalability, we bridge the gap between marketers and data scientists and enable them to make better decisions in the backdrop of accurate and dynamic consumer insights. The new funds will enable us to speed up product development, hire more AI experts and data scientists, and expand our sales and marketing to additional markets.”

    The AI SaaS startup has witnessed a 550 per cent growth since its inception in 2018 and has a customer base across different industries including retail, automotive, healthcare, finance, and food tech. These customers are witnessing at least a 30 pert cent increase in their marketing efficiency and consumer intelligence, on average, said the statement.

    “The real clincher is that our ecosystem of products is completely codeless thereby easing the adoption of AI for our customers,” said APAC CEO Neel Pandya. “Our series B funding will allow us to aggressively pursue the development of more AI models to strengthen the infrastructure and expand into newer markets.” 

  • Amagi Media raises capital from Premji Invest, Mayfield Fund

    Amagi Media raises capital from Premji Invest, Mayfield Fund

    MUMBAI: Advertising network Amagi Media Labs has raised its next round of investment from Premji Invest, the family office of Wipro’s chairman, Azim Premji and a continuing investment from Mayfield Fund.

     

    The funds raised from this round will be used to bolster the company’s growth plans both in India and globally. In India, the funds will be primarily used for expanding its geo-targeting network including addition of new channels to its bouquet.

     

    Having recently opened an office in Japan, Amagi also intends to use these funds to set up local offices in UK, Singapore and the US to expand its growing client base for its broadcast technology platform.

     

    Amagi Media co-founder Baskar Subramanian said, “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 Premji Invest associate with us. This investment also reconfirms Mayfield Fund’s continuing confidence in our execution and growth. With over 300 per cent growth in revenues from last year, we have become the de facto choice for brands in their pursuit for effective advertising.”

     

    As a highly diverse market with varied culture, languages, food habits and purchasing parities, India poses a unique marketing challenge. Addressing this need is Amagi’s USP. National and regional brands use Amagi’s platform to target their advertisements to specific markets or regions depending on their requirements.

     

    Initially incubated in NSRCEL at IIM-Bangalore, Amagi Media had previously raised $12 million from Nadathur Investments and Mayfield Fund.