Digital Entertainment Firm Rusk Media raises Rs. 74 crore in Series B
In its Series B round, which is being headed by Woori Venture Partners and includes participation from New Emerging Technologies Fund, LC Nueva Investment Partners, and other investors, digital entertainment startup Rusk Media is funding Rs. 74 crore, or roughly $8.5 million.
According to Rusk Media's regulatory filing obtained from the Registrar of Companies (RoC), the board has adopted a special resolution to issue 11,663 Series B compulsory convertible preference shares at an issue price of Rs. 63,493 each in order to raise the aforementioned amount.
With an investment of Rs. 26 crore, Woori Venture Partners will head the round. Yashaa Global Capital, LC Nueva Investment Partners, and New Emerging Technologies Fund will each contribute Rs. 16.5 crore, Rs. 15 crore, and Rs. 10 crore. Together, Info Edge, LetsVenture, and Nodwin Gaming will invest the remaining sum.
According to documents, the money would be used in accordance with the business strategy of the company for working capital requirements and expansion.
According to a different document, Rusk Media's board has decided to add 2,828 employee stock options valued at Rs. 18 crore to its ESOP plan and 5,656 management stock options valued at Rs. 35.9 crore to its MSOP plan.
Together with its $9.5 million Series A sponsored by DAOL Investment and Audacity Ventures, the company has raised about $20 million so far. Entrackr predicts that the company's post-allotment valuation will be around Rs 468 crore, or $54 million.
With over 500 monthly views on social media channels Alright! and Playground, as well as their shows on over-the-top (OTT) platforms, the New Delhi-based company is well-known for its content and intellectual property.
In the preceding fiscal year (FY24), Rusk Media's revenue increased by 40.6% annually to Rs. 56.8 crore. At the same time, the company's losses dropped to Rs. 28.7 crore, a 56% decrease.
According to Rusk Media's regulatory filing obtained from the Registrar of Companies (RoC), the board has adopted a special resolution to issue 11,663 Series B compulsory convertible preference shares at an issue price of Rs. 63,493 each in order to raise the aforementioned amount.
With an investment of Rs. 26 crore, Woori Venture Partners will head the round. Yashaa Global Capital, LC Nueva Investment Partners, and New Emerging Technologies Fund will each contribute Rs. 16.5 crore, Rs. 15 crore, and Rs. 10 crore. Together, Info Edge, LetsVenture, and Nodwin Gaming will invest the remaining sum.
According to documents, the money would be used in accordance with the business strategy of the company for working capital requirements and expansion.
According to a different document, Rusk Media's board has decided to add 2,828 employee stock options valued at Rs. 18 crore to its ESOP plan and 5,656 management stock options valued at Rs. 35.9 crore to its MSOP plan.
Together with its $9.5 million Series A sponsored by DAOL Investment and Audacity Ventures, the company has raised about $20 million so far. Entrackr predicts that the company's post-allotment valuation will be around Rs 468 crore, or $54 million.
With over 500 monthly views on social media channels Alright! and Playground, as well as their shows on over-the-top (OTT) platforms, the New Delhi-based company is well-known for its content and intellectual property.
In the preceding fiscal year (FY24), Rusk Media's revenue increased by 40.6% annually to Rs. 56.8 crore. At the same time, the company's losses dropped to Rs. 28.7 crore, a 56% decrease.
