App maker turned music social network Smule has raised another $20 million. The latest round follows a $54 million raise in May of last year, led by Tencent, intent on helping the company expand Asia operations. This time out, funding is arriving via Times Bridge, the VC wing of India media conglomerate The Times Group.
The â€œstrategic investmentâ€� comes as Smule pushes to expand its footprint in India, currently the second largest of the app makerâ€™s international markets. Engaging there requires building a platform for an utterly massive and multi-lingual market.
The round marks the first full social media partnership for Times Bridge, which finds the organization leveraging connections with local artists and helping to provide targeted marketing for Smule.
“Times Bridgeâ€™s mission is to bring the worldâ€™s best ideas to India and share Indiaâ€™s best insights with the world,â€� Times Bridge CEO Rishi Jaitly says in a statement. â€œSmule is a deeply original, bold idea with a mission of changing the way the world experiences music. Our investment will advance Smuleâ€™s music mission across the Indian subcontinent and unlock the creativity of many millions along the way. We are delighted to be working with a partner who approaches India with the empathy, conviction and optimism that the Indian market warrants.â€�
Source: Techcrunch Disrupt