Amagi raises $95M, enters unicorn club
Amagi, a cloud-based SaaS technology for broadcast and connected TV, solidified its position as a SaaS media company with a new $95 million funding round followed by a 108 percent YoY growth in revenues.
It’s not even been three months into the year and India has already has 13 new unicorns.
SaaS mediatech startup Amagi raised $95 million in a round led by Accel, with participation from existing investors Norwest Venture Partners and Avataar Ventures.
Bengaluru-based startup also announced a 108 percent year-on-year growth in revenues.offers creation, distribution, and monetisation of live, linear, and on-demand channels worldwide. The
“This is a crucial juncture for our business as we look to hit a hyper-growth trajectory by creating a winning combination of goals, processes, team structures, and more," said Baskar Subramanian, CEO and Co-founder, Amagi.
With the fundraising, Amagi has now entered the coveted unicorn club — which boasts of startups including CredAvenue, Polygon, DealShare, Darwinbox, Livspace etc that entered this year.
Last year, India saw a record 44 startups crossing the billion-dollar valuation mark. But this record may break this year. According to a PwC report, over 50 Indian startups have the potential to enter the unicorn club in 2022.
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News & Updates
- Bengaluru-based fintech unicorn Razorpay on Wednesday announced its fifth acquisition of IZealiant Technologies, which provides payments technology solutions for banks, for an undisclosed amount.
- Fintech SaaS (software-as-a-service) startup Clear, earlier known as ClearTax, has acquired supply chain finance company Xpedize in a bid to strengthen its offering to SMEs and MSMEs.
- Last week, edtech unicorn BYJU'S announced an $800 million fundraise at a whopping $22 billion valuation. CEO Byju Raveendran led the round with $400 million of his own capital.
- Electric vehicle maker Ola Electric on Wednesday said it appointed Prabhakar Patil, former CEO of LG Chem Power, onto its company's board.
- Microsoft announced advancements in cloud innovations for healthcare and life sciences with the overall accessibility of Azure Health Data Services and updates to Microsoft Cloud for Healthcare.
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