Investments, News

Surewaves, raises INR 35 crore from Canaan Partners and others to tap global markets

sure-eavesSureWaves, a technology driven media solution organisation, has raised INR 35 crore from Canaan Partners, along with the existing investors, India Innovation Fund and Accel Partners as per the report. The raised funds will be used to hire talent, tap global markets and support innovation.

Previously , the firm has raised INR 10 crores in 2011 in its first round of funding from Accel and India Innovation fund.

Based out of Bangalore, SureWaves is an initiative of former Wipro colleagues Raj Khare, Ananth Kansal and Tapan Kumar Dutt. Founded in 2006, the team comprises of professionals who have held top leadership positions earlier at Wipro, Broadcom, Nokia, Tektronix, GroupM and Times Group.

Initially, the company will be focusing on its offerings in Indian market as per SureWaves MD Rajendra Khare. Later, the company will move for developed markets, as Khare believes that technology is first of its kind.

At present, SureWaves is creating the SureWaves Media Grid – An integrated Ad Aggregation, Content Delivery, Network Management, Media Planning & Reporting Platform for multiple forms of media (other than Internet/ Web).

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As per Khare, “media grid” works similar to a power grid and currently spans across 28 states across the country through partnerships with over 280 cable TV channels. It reaches over 80 million households and 400 million viewers.

Apart from this, it is also building media applications to allow a variety of digital mediums to attach to SureWaves Media Grid through specific SureWaves Edge Devices. Company has filed for more than 40 patents to date on the above technology. Its clients include brands like Nestle, Johnson & Johnson, and Hindustan Unilever.

To contact author, email at meha@wirefootindia.com

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