SillyMonks a Hyderabad based Digital and Entertainment media Start-up raised Rs 3 crore from a High Networth Individual Sreenivasa Reddy Musani MD and Chairman of Ektha group. The funds will be used to launch 6 new digital media properties.
It was founded in September 2013 by Sanjay Reddy speacialist in Media & Entertainment and Anil Pallala. With 100 million views a month through 650 channels on YouTube it has a followers of more than 16 million acroos various social media platform. In 2015-16 it raised a revenue of Rs 4.75 crore and in current year, it is expected to have 50% growth.
Sanjay Reddy, Founder and Managing Director of SillyMonks said.
“The funds raised will further secure and maximize ROI for our clients, by delivering new digitally-immersive online experiences to a highly connected customer base and help create innovative original content.”
Sreenivasa Reddy 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 part of SillyMonks and the fast-growing digital transformation space in India.”
The startup is engaged in music band promotion, film marketing, film production houses and online promotion for small and medium industries. It competitors include Whacked Out Media Pvt Ltd which distributes and creates original content, promotes film, MCN partner of Youtube and Manages social media profiles of celebrities.
It has also produced some telugu movies including Dikkulu Choodaku Ramayya, Oohalu Gusagusalade, Raja Cheyyi Vesthe and Tungabhadra with its Angel Investor. It also own Monkstar Music a platform for Independent Artist and is present in Mumbai, South India and Los Angeles.