Rainmaker Ventures has invested $5 million (Rs 33.5 crore) in digital content company YAAP, it said in a statement.
The company, run by YAAP Digital Pvt. Ltd, will use the funds for acquisitions in the branding and visual identity space, automated content distribution platforms and content creation platforms. It is also planning to expand to Singapore and US markets by early next year.
YAAP was founded by digital media professionals Nikhil Bapat and Manan Kapur. The company provides services such as branded content, digital show formats, syndication, brand and visual identity, influencer identification, outreach and channel partnerships.
Digital marketer-turned-entrepreneur Atul Hegde and industrialist Sudhir Menon launched Rainmaker Ventures with a capital commitment of $50 million in December last year.
âWe see YAAP become a leading player in the digital content ecosystem within the next two years. We have a fantastic model and the senior team in place and now will go out aggressively looking for the right acquisitions,â said Menon.
As a part of the investment, Hegde will be joining the board of the company.
Rainmaker made its first investment of $1 million in Mumbai-based Raftaar Technologies that operates bus aggregator Limo in June 2015.
In an earlier interaction with Techcircle, Hegde had said that Rainmaker would be making investments in a fintech and healthcare startup as well.
In a similar space, actor and entrepreneur Dino Morea has invested an undisclosed amount in Vertuals, a Mumbai-based digital content creator for brands.
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