MUMBAI: Graphic India has closed a new seed-financing round of $2.8 million.
The financing was led by CA Media, the Asian investment arm of Peter Chernin’s The Chernin Group that had picked up a stake in Graphic India in 2013, and Michael Maher’s New York based Start Media. The other investors in the seed-financing include Backflip Studios Julian Farrior and Dale Thoms.
The funds raised will be utilised to create content in English, Hindi, Tamil and other Indian languages for the Indian youth to consume on their mobile devices. India has more than 850 active mobile connections and 550 million people under the age of 25.
Graphic India is looking at launching a new wave of enduring characters and mythic heroes for audiences in India and around the world.
Graphic India CEO and co-founder Sharad Devarajan said, “The next Steven Spielberg, JK Rowling, Stan Lee or Miyazaki exists somewhere in India, ready to change the world through their stories. At Graphic, we will find these breakthrough talents and give them the resources and the digital platform to share their creativity with the world. This new financing will expand our content offering and allow us to create India’s premiere mobile platform for comics and animation - engaging and building a passionate community of superhero, sci-fi and mythology fans through Graphic’s content and characters.”
Over the next few months, Graphic India will unveil a number of digital products and apps in India to build direct engagement with the growing community of comic book and animation fans in the country.
“We have always believed in the immense potential of Graphic India. An amalgamation of talent and creativity, the characters, heroes and stories from Graphic India, tap into the unique ingenuity and culture of India, but appeal to audiences worldwide. With smart phones increasingly becoming the preferred medium of entertainment for the youth and the ever increasing consumer reach of mobiles in India, the move towards expanding their offering and creating content for smart phones and tablets will give them with a significant boost and enthuse the next generation of comic buffs,” added Chernin Asia Media Group COO Rajesh Kamat.
Founded in January 2013, by Devarajan, Gotham Chopra and Suresh Seetharaman, Graphic India had previously raised $2.5 million in initial seed financing from CA Media.
