India-based media distributor Hungama has raised $40m in an Intel-backed round that will be used to capitalise on growing smartphone use in the region.
India-based digital media company Hungama has raised $40m in an equity round featuring existing investors Intel Capital, the corporate venturing unit of semiconductor maker Intel, VCCircle reported on Friday.
The round was led by venture capital firm Bessemer Venture Partners. Intel first invested an undisclosed amount in Hungama in October 2012, alongside investments in an additional nine startups across five countries.
The funding will be used for product development, and to further integrate new content with Hungama’s flagship app. Hungama,…
