SureWaves bags Rs 35-crore deal to hire talent, innovate

13 Jan,2014

By Peerzada Abrar

 

Canaan Partners, a multi-billion dollar global venture capital firm, has led a Rs 35-crore investment into Bengaluru-based digital media technology company SureWaves MediaTech. Existing investors, India Innovation Fund and Accel Partners, also participated in the round.

 

SureWaves which provides advertising technology to customers such as food company Nestle, healthcare products maker Johnson & Johnson and consumer goods company Hindustan Unilever will use the funds to hire talent, tap global markets and support innovation.

 

“We will be targeting several emerging and developed countries,” said SureWaves MD Rajendra Khare, who believes their technology is first of its kind, as even in developed markets like United States, an automated centralised solution for insertion and real-time monitoring of ads across multiple television channels is not available.

 

Source:The Economic Times

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