IndiaSphere

TVS Shriram Growth Fund has joined Helion Venture Partners to invest a combined sum of $7.5 million in media start-up 9.9 Mediaworx Pvt. Ltd. This will be TVS Shriram Growth’s first investment from its Rs 600 crore fund. Earlier VC Circle had reported that 9.9 Mediaworx had raised Rs 33.97 crore from Helion Venture Partners and a clutch of NRIs, diluting a 49.25% stake. With the additional investment from TVS Shriram, a majority stake in the company now seems to be with its investors.
Sanjeev Aggarwal, MD of Helion, and Gopal Srinivasan, CMD of TVS Capital, will join the 9.9 Media Board. The funds  will be utilised to fund growth and the launch of new products and services. Last year 9.9 Mediaworx had acquired the brands and businesses of Jasubhai Digital Media (JDM).
"The founding team at 9.9 led by Pramath, brings a great ... [Follow Original Article link for full content.]