Spirit Media, a content and brand development firm founded by actor- entrepreneur Rana Daggubati, has raised an undisclosed amount of investment from Gruhas, led by Nikhil Kamath and Abhijeet Pai.
The firm, established in 2005, will utilise the proceeds to strengthen its IP-led growth model across various platforms, including television, film, and digital media, to reach a global audience.
Rana Daggubati, an heir of Suresh Productions, one of the oldest film production companies in the country, shot to the limelight with his villain role in the blockbuster movie, Baahubali.
Also read: National Film Heritage Mission ramping up digitisation and restoration of heritage films
“We look forward to giving India’s media, entertainment, and brand creators the opportunity and resources to transform the country through pursuing their dreams,” he said, commenting on the investments from Gruhas.
Quoting reports, he said the Indian media and entertainment industry was expected to cross the ₹4.30-lakh-crore mark by 2026, with various government initiatives and changing consumer preferences driving growth.
“With this investment from Gruhas, Spirit Media is poised to become a go-to platform for creators and entrepreneurs looking to access the resources they need to produce, market, and distribute their content globally,” a Spirit Media executive said.
Also read: SDB allocates $6.3 billion to enhance entrepreneurship in Saudi Arabia
With a growing appetite for digital content, the demand for high-quality, IP-driven content is on the rise, making companies like Spirit Media well-positioned to capitalise on this trend.
“We recognise the potential of Spirit Media and its unique business model and see it as an excellent opportunity to invest in a company with a good potential,” Nikhil Kamath, Co-Founder of Gruhas, said.
SHARE
Published on March 15, 2023
