Hyderabad startup SillyMonks raises Rs 3 crore from HNI

HYDERABAD: Hyderabad-based digital and entertainment startup SillyMonks, the youngest YouTube Multi Channel Network Partner, has raised Rs 3 crore from HNI Sreenivasa Reddy Musani, CMD of EKTHA Group. SillyMonks says that this deal will help augment their market leadership and to introduce new digital media properties.

Sreenivasa Musani is an entrepreneur with 18 years in Internet and e-commerce related businesses specializing mostly in disruptive technologies. His passion is to invest and be part of technologies that make a difference in the way people interact and conduct business online.

“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,” said Musani. “We are excited to be part of SillyMonks and the fast growing digital transformation space in India.”

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.”

SillyMonks intends to launch six web series properties on their YouTube channel ‘SILLY TUBE’. Outlining its services and brand strengths in the market Sanjay Reddy said, “We have a multitude of popular digital media properties like MonkStar and over 650+ YouTube Channels with original content. We are looking at adding compelling content and options to brands and agencies eager to connect with the critical and growing digital demographics, in the online &television market space with a profitable combination of technology and content.”