Existing investors InfoEdge Ventures, Mistry Ventures and Survam Partners were also part of the round.
Rusk Media looks to scale its content by partnering with OTT Partners in India and around the world
With the current fundraising campaign, Rusk Media has secured the sum of $12 million up so far
Digital entertainment company Rusk Media is raising more than $9.5 Mn in its second Series A round of funding which was led by the Seoul-based DAOL Investment and Audacity Ventures.
Existing investors – InfoEdge Ventures Mistry Ventures and Survam Partners joined the round as well.
Rusk Media looks to scale its content through its OTT partner in India and around the world. Apart from that, it plans to create a UGC-based online gaming system that will allow game developers to develop games with the company’s IP assets.
With the latest fundraising round, Rusk Media has collected a total of $12 Mn from investors so far.
“We are confident that Rusk is competitive on the level of IP creation across non-fiction, fiction, and e-sports. We believe that Rusk is well placed to be a major player in entertainment thanks to their plans for their IPs as well as their IP-led game platform” added Chihoon Hyun who is a partner at DAOL Investment.
In 2019, Rusk Media was founded by Mayank Yadav in 2019, Rusk Media creates content for Gen Z and millennials. It runs two platforms, Alright! and Playground according to the company, together bring in more than 500 million users per month.
“With the shift in behavior of the digital native audience the entertainment landscape has changed through snackable social videos of 30 seconds, OTT shows, casual and AAA gaming” Yadav said.
In the last few days, Rusk Media along with NODWIN released an IP for gaming entertainment known as Playground. Playground claims to have gathered over $200 million in viewers and is expected to be global by the beginning of January 2023.
Rusk Media cap table includes Nazara Games, NODWIN and InfoEdge Ventures in addition to other. Its clients include Tinder, Vicks and Groww and many more.
On December 20, 2021 Rusk Media reported that Nazara’s subsidiary NODWIN purchased an interest of 10% in the company for an unspecified amount. Prior to that the company also got commitments in the amount of the equivalent of 2.01 crore in the form of Nazara.
Within the Indian digital entertainment market it competes against similar companies like Kuku FM, Spartan Poker and WinZO.
According to an report that the entertainment and media industry is predicted to cross the $55-$70 billion mark by 2030. It is expected to grow by 17% through 2023.