Existing investors–InfoEdge Ventures, Mistry Ventures and Survam Partners also participated in the round
Rusk Media looks to scale its content with its OTT partners in India and across the globe
Adding the current fundraising, Rusk Media has secured $12 Mn in aggregate to date
Digital entertainment startup Rusk Media has raised over $9.5 Mn in its follow-on Series A funding round led by Seoul-based DAOL Investment and Audacity Ventures.
Existing investors–InfoEdge Ventures, Mistry Ventures and Survam Partners also participated in the round.
Rusk Media looks to scale its content with its OTT partners in India and across the globe. Besides this, it also plans to build a UGC-led social gaming platform that will enable developers to create games via its IP assets.
Adding the current fundraising, Rusk Media has secured $12 Mn in aggregate from investors to date.
“We have confidence in Rusk’s competitiveness in IP creation across fiction, non-fiction, and e-sports entertainment. We believe Rusk is well positioned to become an entertainment powerhouse with their plans on their IPs and IP-led gaming platform,” said Chihoon Hyun, partner at DAOL Investment.
Set up in 2019 by Mayank Yadav, Rusk Media creates content for Gen Z and millennials. It operates two platforms–Alright! and Playground that, as per the startup, together garner more than 500 Mn viewership on a monthly basis.
“With the behavioral shift of the digital native audiences – entertainment has transformed across 30-second snackable social videos, OTT shows, casual & AAA gaming,” Yadav said.
Recently, Rusk Media along with NODWIN rolled out a gaming entertainment IP called Playground. The social media platform claims to have garnered over $200 Mn viewers and is likely to go international by January 2023.
Rusk Media cap table includes Nazara Games, NODWIN and InfoEdge Ventures, among others. Some of its clientele are Tinder, Vicks and Groww, among others.
In December 2021, Rusk Media reported that Nazara’s subsidiary NODWIN acquired a 10% stake in the startup for an undisclosed amount. Prior to this, it also received commitments of INR 2.01 Cr from Nazara.
In the Indian digital entertainment sector, it competes with the likes of Kuku FM, Spartan Poker, and WinZO.
According to a report, the country’s media and entertainment sector is anticipated to touch the $55-$70 Bn mark by 2030, growing at a CAGR of 17% by 2023.