Rusk Media Raises $8.5 Mn In Series B Funding Round

Nazara-backed Rusk Media, a digital entertainment company is raising Rs 74 crore (around $8.5 million) in its Series B funding round from Woori Venture Partners.

The round also saw participation from New Emerging Technologies Fund, LC Nueva Investment Partners, and other investors.

Rusk Media's board has approved a plan to issue 11,663 Series B compulsory convertible preference shares at a price of Rs 63,493 each to raise the mentioned amount, according to its filing with the Registrar of Companies (RoC).

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Woori Venture Partners will invest around Rs 15 crore, while New Emerging Technologies Fund, LC Nueva Investment Partners, and Yashaa Global Capital will invest Rs 16.5 crore, Rs 15 crore, and Rs 10 crore, respectively.

The remaining amount will come from Info Edge, LetsVenture, and Nodwin Gaming.

Additionally, Rusk Media's board has also approved expanding its ESOP plan with 2,828 employee stock options worth Rs 18 crore and its MSOP plan with 5,656 management stock options valued at Rs 35.9 crore.

According to the filings, the funds will be used for growth and working capital as part of the company's business plan.

In 2022, Rusk Media raised $9.5 million in its extended Series A funding round, led by Seoul-based DAOL Investment and Audacity Ventures.

About Rusk Media

Founded in 2019 by Mayank Yadav, the Delhi NCR-based Rusk Media creates digital content aimed at GenZ audiences through brands like Alright! (a fictional channel), Playground (gaming entertainment), and LIT (food, fashion and travel).

The startup says it has over 20 million subscribers and receives more than 1 billion monthly views across its content on social media and platforms like Amazon miniTV, JioCinema and JioHostar.

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