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Amagi raises $95M, enters unicorn club

Good Morning, 

It’s not even been three months into the year and India has already has 13 new unicorns. 

SaaS mediatech startup Amagi raised $95 million in a round led by Accel, with participation from existing investors Norwest Venture Partners and Avataar Ventures. 

Amagi offers creation, distribution, and monetisation of live, linear, and on-demand channels worldwide. The Bengaluru-based startup also announced a 108 percent year-on-year growth in revenues.

“This is a crucial juncture for our business as we look to hit a hyper-growth trajectory by creating a winning combination of goals, processes, team structures, and more,” said Baskar Subramanian, CEO and Co-founder, Amagi.

With the fundraising, Amagi has now entered the coveted unicorn club — which boasts of startups including CredAvenue, Polygon, DealShare, Darwinbox, Livspace etc that entered this year.

Last year, India saw a record 44 startups crossing the billion-dollar valuation mark. But this record may break this year. According to a PwC report, over 50 Indian startups have the potential to enter the unicorn club in 2022.

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