JM Financial Private Equity led the investment round of Rs 95 crore ($11.5 million) in Silverpush (SilverEdge Technologies). The fundraising round saw participation from investors like Ashish Kacholia, Mirabilis Investment Trust, and Seven Hills Capitals.
Silverpush will utilize the capital to fulfill its global expansion plans. The company seeks to accelerate its growth plans through inorganic opportunities with the latest infusion.
With this investment, JM Financial India Growth Fund III, backed by JM Financial Private Equity Limited closed its fourth round of funding.
Silverpush is an artificial intelligence (AI) oriented platform that provides advertising solutions to several brands and media agencies. Currently, SilverPush Technology is running its operations in more than ten countries across South Asia, the Middle East, and Africa. It is also present in the USA and India.
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The Singapore and Gurugram-based adtech start-up earlier raised $5 million in a series B funding round led by a Japanese marketing company FreakOut Holding.
"We are extremely bullish on the shift that we have been witnessing in the digital advertising space driven by increasing consumption of social media and video-based content. With the growing concern over data privacy, cookie-less solutions will grow and account for a larger share in the digital advertising budget," Sidharth Kothari, MD, JM Financial said.
Hitesh Chawla, the founder, and CEO of Silverpush said that the partnership and capital infusion from JM Financial Private Equity would help them in accelerating their expansion plans both in the present and future.
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