A R Rahman backed Qyuki secures $3.5 million from info Edge

AR Rahman and Shekhar Kapur operated and functioned Qyuki is a data-driven media firm, which invents and invests in opinion leaders, helping and guiding them grow their audience, create content, and launch D2C brands. It was founded by Samir Bangara, AR Rahman, and Shekhar Kapur. Qyuki was incorporated on June 11, 2010, but it  was relaunched in the month of March,2014. 
Moreover, Multi-channel broadcast network Qyuki Digital Media has secured $3.5 million from Info Edge Venture Fund (IEVF). IEVF is Info Edge’s substitute investment fund, which focuses and concentrates in tech and tech-enabled entities.
According to the filings with the Registrar of Companies,about $2.5 million has been invested in the form of Convertible Preference Shares (CCPS), with a face value of Rs 10. Additionally, another $1 million has been invested in the form of Cumulative Participating Debentures (CCD), worth face value of Rs 1,000 each. Also, Info Edge has acceded to acquire 916,356 CCPS of Qyuki. 
Invested by industry majors like Shekhar Kapur and A.R. Rahman, Qyuki has built and established an online content ecosystem for artists. It is a data-driven new media company which invents and invests in India’s influential Key Opinion, helping them grow their audience, create content, and launch scalable Direct-to-Customers (D2C) brands. Moreover, according to the RoC filings, the company took into account a turnover of Rs 14.2 crore in FY 2017-18, Rs 14.6 crore in 2016-17, and Rs 67.8 crore in FY 2018-19. 
Prior to this last month, Info Edge, which owns companies including Naukri and Jeevansathi, declared in its stock exchange filings that it would be setting up IEVF, serving tech to create market, and distribute innovative products and services that would be profitable to customers.

Authored by Farheen Malik, Content Developer (Startup Monk)

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