Sandeep Goyal, Chairman of Mogae Media, who sold his 26 per cent stake in Dentsu India in 2011 has raised a Rs. 100 crores fund. The money will be used to fund the acquisition of digital start ups in India that have built brands, but are now struggling to raise funds for re-engineering or re-launch. Goyal, former Chairman and JV Partner of Dentsu India was also the Group CEO of Zee Telefilms Ltd.
Goyal aims to make late stage investments in the Digital Media and Mobile Innovation verticals; as also service sector start ups, especially in the F&B, Logistics, E-commerce / M-commerce and Cab pick-up space (local mobility) with mobile enabled platforms.
Goyal’s Mogae Media, which has an investment from Renuka Ramnath’s Multiples PE is keen to look at synergistic investments in the mobile space. Goyal said, “Analytics, mobile ad serving platforms, programmatic buying on the mobile, mobile fulfillment and mobile targeting are areas that Mogae Media is keenly focused on. Any acquisitions or investments in this space are of interest to us immediately.”
He added, “We are separately looking at companies who have created a solid brand but have burnt too much cash getting there. They now need an injection of both cash and rock solid experience for a good chance to survive. Outside of Mogae Media, some of my ultra HNI friends and I will partner in these investments.”
An alumni of Harvard Business School, and former Country Head of one of the world’s largest telecom companies is expected to join hands with Goyal in this initiative.
Goyal launched Mogae Media in 2012 along with his wife Tanya Goyal. Since launch, the company has established itself as one of the leading providers of integrated mobile marketing services, offering a range of mobile branding solutions – from simple outreach to more sophisticated solutions. Tango Media, a subsidiary of Mogae Media recently launched StarStar (**), a patented technology that enables customers to merely dial a name rather than dial a number. The company since then has partnered with established brands like Kellogg’s India, Urban Clap, Star TV, Hero, SAB, Miller, TATA Motors, Yes Bank, Axis Bank, Kansai Nerolac, Discovery Channel, DSP Black Rock and Max Life Insurance.