Monarch Innovative Technologies, which provides products in visual media, has raised Rs 25 crore venture capital from IndoUS Venture Partners, one of the major venture capitals which give early and mid-stage funding to emerging and budding businesses in India.
Monarch leads the domestic market in the wedding video editing segment by providing range of services that include virtual studio, online graphics systems and signal converters for broadcasters and cable operators.
Company is trying to rapidly enhance its business by lauching new products. At present it has linear and non-linear video editing and solutions for the video segment apart from photo book designing and image editing software solutions to the photo market through its popular Karizma brand.
Viren Satra, CMD of Monarch Innovative Technologies in a release announced that, company's upcoming NLE solution is ready to bring drastic changes in the market. Besides, Monarch is well prepared to enhance its reach in the global market. He also believes that the broadcasting industry has an immensely promising market in future and company is putting all its efforts in it. Further, company has discovered that HD is the upcoming technology platform and Monarch have voluntarily prepared HD solutions in accordance with its strategy to enhance its product portfolio and reach.
Dr Kumar Shiralagi, Managing Director of IUVP believes that, there is huge opportunity for development in this sector. Further, Monarch in the past have offered great quality of products at reasonable prices complemented with excellent after sales service facilitate the company to acquire and retain customers. Monarch's products range not only allows the customers to save costs on one hand and also decreases operations times and thus resulting in better cash flow.
IndoUS Venture Partners, which provides assistance to mid-stage firms, previously had supported companies like Pressmart, which offers print-to-digital delivery services; Myntra, an on-demand personalization company and PreMedia Global Inc, which provide high-end content services to sectors like educational publishing, media services, animation, etc.