Mumbai: Magnite (Nasdaq: MGNI), the largest independent sell-side advertising company, has announced the opening of a new office in Mumbai, which will serve as the company’s base across India. The move indicates the company's commitment to providing support for publishers and buyers in one of the fastest-growing digital advertising markets in the world.

“Programmatic adoption in India is forecasted to increase at a CAGR of 32 per cent until 2027, according to Magna Global,” said Magnite Asia managing director Gavin Buxton. ”Establishing a Magnite hub in Mumbai allows us to provide more hands-on support and help our clients navigate the changing market landscape. As advertisers continue to seek out the most comprehensive omnichannel ecosystem to reach their audiences, we’ll be able to more seamlessly connect them with the premium publishers we work with.”

This year, Magnite introduced new advanced tools for streaming TV media owners in India, including Magnite Streaming and the SpringServe ad server, to help them better manage high-quality ad experiences across the video landscape. These developments have been met with strong marketplace demand and fuelled 185% year over year growth in CTV ad spend in India.

Magnite continues to build out its team in India and most recently appointed Chandrahas Shetty as Demand Facilitation Lead. Other team members include Karnika Maroo, Senior Account Manager, Supply, Jerit Kunjumon, Account Manager, Supply, and Rohit Prasad Yeggina, Senior Account Manager. Together, they are focused on delivering great results for clients by ensuring they can leverage Magnite’s unique omnichannel capabilities.