Helion, TVS Shriram to invest $ 7.5 mn in 9.9 Mediaworx

Televisionpoint.com Correspondent | Mumbai
Helion Ventures and TVS Shriram Growth Fund will invest $ 7.5 million in 9.9 Mediaworx, a media company focused on niche consumer, business and professional communities.

Sanjeev Aggarwal, managing director, Helion, and Gopal Srinivasan, chairman and managing director, TVS Capital, will join the 9.9 Media board.

Pramath Raj Sinha, founder and managing director, 9.9 Media, said, "We are fortunate to have such investors as Helion and TVS Shriram Growth Fund as partners in our journey to build a media company."

"At a time when media in India is expanding and growing rapidly, we see 9.9 Media as the ideal vehicle to extend our portfolio into the media space," said Sanjeev Aggarwal.

Added Gopal Srinivasan, "the founding team at 9.9 led by Pramath, brings a great depth of professional experience and we are excited to partner with this team to build a nextgen media business."

9.9 Media was founded in September last year by a group of professionals led by Sinha, formerly a partner at McKinsey and Co. and the former MD and CEO, ABP Group.

In December last year, 9.9 Media acquired Jasubhai Digital Media and all its brands. Earlier, a group of investors including Rajat Gupta, former global MD, McKinsey & Co. had invested in the company.