May 31,2016: Chairman of Mogae Media, Sandeep Goyal has raised approx $15 Mn (INR 100 Cr) fund, which will be used to fund the acquisition of digital startups.
These startups would categorically be the ones that have built brands, but are now struggling to raise funds for re-engineering or re-launch.
Talking about the development, Sandeep Goyal adds, “Analytics, mobile ad serving platforms, programmatic buying on the mobile, mobile fulfillment and mobile targeting are areas that Mogae Media is keenly focused on. Any acquisitions or investments in this space are of interest to us immediately.”
Goyal, who is former Chairman and JV Partner of Dentsu India, was also the Group CEO of Zee Telefilms Ltd. Along with him, an alumni of Harvard Business School, and former Country Head of one of the world’s largest telecom companies is expected to join hands with Mr. Goyal in this initiative.
The new fund will be aimed to make late stage investments in the Digital Media and Mobile Innovation verticals; as also service sector startups, especially in the F&B, logistics, ecommerce, mcommerce and Cab pick-up space (local mobility) with mobile enabled platforms.
Mogae Media was launched in 2012 along by Sandeep with his wife Tanya Goyal. It is a provider of integrated mobile marketing services, offering a range of mobile branding solutions. The company has partnered with established brands like Kellogg’s India, Urban Clap, Star TV, Hero, TATA Motors, Yes Bank, Axis Bank, Kansai Nerolac, Discovery Channel, DSP Black Rock and Max Life Insurance, etc.
Image Source: Freshersworld.com