Entertainment content platform MissMalini has raised Rs 10.4 crores in pre-series A funding round. The round was led by Orios Venture Partners and New Enterprise Associates.
This funding round comes six years after the firm secured angel funding from investors including Google’s Rajan Anandan. Launched in 2008, MissMalini is a multi-media and multi-platform content firm and is among the first to make a mark in India’s blogging space.
“As a millennial content firm, we offer a direct platform across multiple social media channels so as to create maximum impact. We are in talks with firms for our next TV show, which we are considering in a (direct-to-consumer) or (over-the-top) format,” CEO Nowshad Rizwanullah said.
With the funds raised, the company is looking to build full-service integrated video production units as it prepares to launch vernacular content across all its current and new engagement platforms.
The company stated that its revenue is expected to grow by 2-3 times in FY19 and a significant growth in its user base as well.
The company functions as a distribution platform, creating different styles of millennial-focused lifestyle and entertainment content for platforms including Facebook, Twitter and Instagram. It also covers audio podcasts like those on music streaming platform Saavn. MissMalini has also produced five seasons of TV-based content shows since 2014.
The firm claims to have over 10 million unique monthly followers across platforms, with some of the channels giving it an outreach of almost 40 million a month.
“Digital entertainment is a booming industry, riding on the back of a large emerging market. Within this, MissMalini has established itself as a content platform that is already monetising along with content driven by a personality. That differentiates it from some of the other offerings in the space and puts it in a stronger position,” said Rehan Yar Khan, managing partner at Orios Venture Partners.
The content and media space has been consistently drawing increasing interest from venture capital investors in India over the last 18 months. The entertainment sector is witnessing huge growth and thus, the fundings.