Digital media based start up ‘Silly Monks’ raised fund of 3 crores INR with the help of high net-worth individual. The respective entertainment start-up plans to launch 6 web series programs so as to hold a position in the market. The funds was provided by Sreenivasa Reddy Musani, Chairman and Managing Director of Ektha Group. The firm has keen interest in Information Technology Solutions as well as real estate.
Established in September 2013 ‘Silly Monks’ was founded by Sanjay Reddy and Anil Pallala. It raised its initial funds from Tamil Film Producer Korrapati Ranganatha Sai, who gained fame ‘Eaga’ Directed by S.S. Rajamouli. Silly Monks is a Hyderabad based company which deals in multi-channel network (MCN) offering over 100 million views monthly basis through 650 channels of video sharing website. The company has also partnered with YouTube which has 16 million followers in social media platform across the country. It focuses on making/creating original content along with digital marketing along with designing apps and websites.
The fund raised from Ektha Group will be used in ‘new digitally immersive online experiences’ sector to a highly connected target audience so as to create more original contents through innovations and return on investments in a maximum manner, specifically for its clients.
The success of its previous web series ‘Muddapappu Avakai’ will help in introducing its latest web series on YouTube channel named Silly Tubes. Other than this, it is also engaged in digital marketing, film marketing, music band production, online brand promotion for small and medium industries and film production houses.
According to Sanjay Reddy, 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 and television market space with a profitable combination of technology and content.
The company has even co-produced Telugu films like ‘Oohalu Gusagusalade’, ‘Dikkulu Choodaku Ramayya’, ‘Tungabhadra’ and ‘Raja Cheyyi’. It owns music company called Monkstar Music, a platform for independent artist. The company is located in Southern part in India, Mumbai and Los Angeles. It generated revenue worth 4.75 crores INR during the fiscal year 2015-16.