Raised Rs 3 Cr to launch six web series
Hyderbad based Youtube Multichannel Network startup SillyMonks received Rs 3Cr from Sreenivasa Reddy Musani, CMD Ektha Group. The company will utilise the raised funds to augment their market leadership and to introduce new digital media properties.
Investor Sreenivasa Musani, said: “SillyMonks has shown tremendous potential in its growth and is well placed to be part of new digital revolution in India in the coming years. We are excited to be a part of SillyMonks and the fast growing digital transformation space in India.”
The company received a great response for their first Telugu web series ‘Muddapappu Avakai’ produced by Pink Elephant Pictures under SillyMonks Network. Now they are planning to come up with 6 new web series. The founders are keen to expand in this segment and want to provide video content across all devices.
“The funds raised will further secure and maximise ROI for our clients, by delivering new digitally immersive online experiences to a highly connected customer base and help create innovative original content,” said Sanjay Reddy, Founder and Managing Director of SillyMonks.
This new age digital network was launched in September 2013 by Sanjay Reddy and Anil Pallala. It has digital properties like MonkStar Music that provides a platform for independent artists and has over 650+ YouTube Channels with original content. It delivers approximately 100 Mn + views in a month and addresses a social audience of 16+ Mn followers across various social media platforms.
“We are looking at adding compelling content and options to brands and agencies, eager to connect with the critical and growing digital demographics, in the online & television market space with a profitable combination of technology and content,” said Reddy.
SillyMonks is Google & Youtube partner in India, co-produced Telugu movies named ‘OohaluGusagusalade’ ‘DikkuluChoodakuRamayya’ ‘Tungabhadra’ ‘Raja CheyyiVesthe” along with angel investor.
SillyMonks is currently having presence in South India, Mumbai and Los Angeles.
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