SillyMonks raise Rs.3 crore for expansion

Last Updated: Mon, Jun 06, 2016 22:00 hrs

Hyderabad, June 6 (IANS) Hyderabad-based digital and entertainment start-up SillyMonks announced on Monday today they have raised Rs.3 crore from HNI (high networth individual)Sreenivasa Reddy Musani, CMD, Ektha Group.

The deal will help SillyMonks, the youngest and the fastest growing YouTube multi channel network partner, augment their market leadership and to introduce new digital media properties.

"Sreenivasa Musani is an entrepreneur with 18 years in Internet & E-commerce related businesses specializing mostly in disruptive technologies. His passion is to invest and be part of technologies that make a difference in the way people interact and conduct business online," said SillyMonks in a statement.

"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," said Musani.

"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 SillyMonks founder and Managing Director Sanjay Reddy.

SillyMonks plans to launch six web series properties on their YouTube channel "SILLY TUBE" encouraged by the stupendous success of first Telugu web series MuddapappuAvakai