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The India Innovation Fund (IIF), an early stage venture capital fund, has invested in SureWaves MediaTech, a Bangalore-based start-up operating in the digital media-technology space.
IIF and Accel Partners have invested Rs 10 crore as part of Series A investment.
Mr Raj Khare, CEO, SureWaves, said in a press statement, “We are creating a new category and are excited at joining hands with India Innovation Fund who literally share our DNA together with Accel Partners who are known for having driven some of the most significant revolutions globally in technology driven businesses.”
Founded in 2006, Surewaves offers the ‘Surewaves media grid', an integrated advertisement aggregation, content delivery, network management, media planning and reporting platform.
The product addresses the Spot TV market and enables geo-targeted advertisements on national and regional cable channels.
SureWaves is also active in the Digital Display Networks business.
Mr Rajesh Rai, CEO, India Innovation Fund, said, “We are pleased to support the SureWaves team who have built an innovative product that enables advertisers to cost-effectively reach a large targeted audience in dispersed markets.
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