Media tech company Amagi raises $100 mn from Accel, Premji Invest, others

Amagi, which provides software-as-service technology for broadcast and connected TV has raised $100 million from  Accel, Avataar Ventures, Norwest Venture Partners, and existing investor Premji Invest, the investment arm of Wipro billionaire Azim Premji.  The venture funds have bought out the stake held by Emerald Media (an investment platform backed by KKR) and Mayfield India. Nadathur Holdings continues as an existing investor.

Amagi is tapping the $50 billion cloud-based video content creation, distribution, and monetisation market. The partnership will provide media companies the much-needed agility and efficiency to succeed in the traditional broadcast and the evolving OTT and streaming TV