Rusk Media to Raise USD 8.5M in Series B Funding Round

Rusk Media, a digital entertainment firm, is securing Rs 74 crore (around USD 8.5 million) in its Series B funding round, led by Woori Venture Partners, with additional participation from New Emerging Technologies Fund, LC Nueva Investment Partners, and other investors.

The board of Rusk Media has approved a special resolution to issue 11,663 Series B compulsory convertible preference shares at an issue price of Rs 63,493 each, in order to raise the aforementioned amount, according to a regulatory filing with the Registrar of Companies (RoC).

Woori Venture Partners is set to invest approximately Rs 15 crore, while New Emerging Technologies Fund, LC Nueva Investment Partners, and Yashaa Global Capital will contribute Rs 16.5 crore, Rs 15 crore, and Rs 10 crore, respectively. The remaining amount will be jointly invested by Info Edge, LetsVenture, and Nodwin Gaming.

This is part of a larger funding round. According to filings, the raised funds will be used to support growth and meet working capital requirements, in line with the company’s business plan.

A separate filing shows that Rusk Media's board has approved a resolution to expand its ESOP plan by issuing 2,828 employee stock options worth Rs 18 crore, and its MSOP plan with 5,656 management stock options valued at Rs 35.9 crore.

The company has raised approximately USD 20 million to date, including a USD 9.5 million Series A round led by DAOL Investment and Audacity Ventures.

According to reports the company’s post-allotment valuation is expected to be around Rs 468 crore, or USD 54 million.

Rusk Media has a portfolio of more than 20 IPs across fiction, non-fiction, and anime genres, generating over 500 million views each month.

Rusk Media achieved a 40.6% year-on-year revenue growth, reaching Rs 56.8 crore in the previous fiscal year (FY24). Simultaneously, the company reduced its losses by 56%, bringing them down to Rs 28.7 crore.