TIW Private Equity acquires a majority stake in Digital Refresh Networks
New Delhi, September 4 () TIW Private Equity said Wednesday that it acquired a majority stake in the digital platform management firm based in Mumbai Digital Refresh Networks for USD 6 million.
The size of the agreement is approximately $ 6 million, which provides a digital update bandwidth to strengthen its main services and procurement, a statement said.
Digital Refresh Networks (formerly Digital F5) was founded in 2011 by Ravi Dubey and Barin Mukherjee.
The company plans to use the investment income to strengthen its experience in content creation, according to the statement.
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3rdFlix raises $ 5 million led by Exfinity Ventures *
3rdFlix Visual Effects Pvt Ltd, an educational technology company based in Hyderabad, said Wednesday that it has raised USD 5 million, led by Exfinity Ventures.
The pre-series A round also featured the participation of YourNest, IDFC Parampara and HNI.
3rdFlix was founded in 2014 by Subbarao Siddabattula, Ilangovel Thulasimani and Charu Noheria. The company uses visual effects and technologies such as machine learning, artificial intelligence, augmented/virtual reality to create intelligent and real shared experiences for improved learning.
3rdFlix plans to use the capital raised to increase its current market penetration of more than 1.5 lakhs in the 6-12 segment and launch immersive and experimental content later this year, according to the statement.
The company also plans to launch in international markets in the next 18 months, particularly in the US. USA, Africa, the United Arab Emirates and Southeast Asia (SEA).
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Cashflo raises $ 3.3 million in funds *
CashFlo said Wednesday that it raised USD 3.3 million in Series A funds from SAIF Partners and selected angel investors, including Ashish Iyer and Arpan Sheth, among others.
The injection of new funds will be used even more for commercial expansion, platform improvement and the creation of a high-caliber team to defend its solid growth plans, according to a statement. The company aims to reach about 75 employees in the next 24 months, he added. SR SR MR MR