Singapore-based strategic investor Four Cross Media is providing a second round of funding to digital services company To The New to expand its Indian operations and scout for new acquisitions in the fast growing sector. Four Cross will invest Rs.75 crore over the next three years in the Indian arm of the company that was founded in 2010 and has offices in Mumbai and Delhi.
Four Cross Media is led by Puneet Johar. In 2011, it had invested Rs.30 crore in the company, which creates content for digital marketing campaigns and counts Maruti Suzuki, Viacom 18 and Time Warner as its clients. The focus areas for new capabilities will be on analytics, mobile business and design. To the New, which also creates apps, and Web and mobile content for clients, has made three acquisitions in the past two years — Intelligrape, Tangerine and Ignitee. It expects two more acquisitions in India in 2013, in the range of $2-5 million (Rs.11-27 crore).
Source: Economic Times
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