SureWaves MediaTech gets private equity funding

MUMBAI : An early stage venture capital fund, The India Innovation Fund (IIF), has invested Rs 100 million in a Bangalore-based start-up, SureWaves MediaTech, which operates in the digital media-technology field.

Nasscom and ICICI Knowledge Park — the promoters of IIF — have partnered with global early stage investor Accel Partners to fund the investment.

Founded in 2006, SureWaves provides a technology platform called ‘SureWaves Media Grid‘ that builds content and advertiser friendly standard interfaces to manage, aggregate and control flow of content or advertising from creation to consumption across mediums.
 
The technology works in the Spot TV market and facilitates geo-targeted promotions on national and cable channels.

The company also offers Digital Display Networks services.

In 2009, Indian Innovation Fund raised Rs 400 million from companies such as Airtel, DST and TCS. In 2010, it made its first investment of Rs 25 million in Mitra Biotech.