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Indian Music And Movie Streaming Firm Hungama Is Raising $100 Million

March 19, 2015

TechCrunch

The promise of mobile in India is attracting venture capital at a rate never seen before. The latest deal of note involves Hungama, a media company that provides music, videos and movies on mobile, desktop and beyond, which is on the cusp of raising more than $100 million.

Sources close to the media company told TechCrunch that it is in “advanced” talks with existing investors Intel Capital and Bessemer Venture Partners, which fronted a $40 million raise last summer. Intel Capital invested an undisclosed sum in the business in 2012.

Hungama was founded in 2005 as a marketing and communications agency that offered services such as interactive gaming, lead promotion and community building for brands. Eying the growth of mobile, it branched out to entertainment in 2009, and today it is arguably India’s most prominent player in that space. (The original, marketing-focused side of the business was sold to WPP…

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