Online ticketing platform BookMyShow on Wednesday said it has raised $100 million (roughly Rs. 685 crores) in Series D funding round led by private equity firm TPG Growth.
The round also saw participation from existing investors, Bigtree Entertainment, which owns BookMyShow, said in a statement.
"This fresh infusion of funds will fuel BookMyShow's growth plans as it transforms into the ultimate 'Entertainment Destination' for its customers," it said.
Ashish Hemrajani, Founder and CEO, BookMyShow said, "BookMyShow is excited to welcome TPG Growth as our newest partner. They bring with them extensive experience across the global media and entertainment sector, which will be instrumental as we look to accelerate our growth plans in this space. The strategic value that all our investors continue to provide us will also be of immense importance as we begin a new chapter of our standout story."
"TPG Growth is committed to partnering with dynamic companies and entrepreneurs that are at the forefront of global media and entertainment," said Bill McGlashan, TPG Growth Founder and Managing Partner and Co-Founder and CEO of The Rise Fund. "BookMyShow has a tremendous chance to transform how Indian consumers discover and experience entertainment, and we're looking forward to working with Ashish and the team to capitalise on this opportunity."
Akshay Tanna, Principal at TPG Growth, said: "Traditionally dominated by movies, India's entertainment industry is rapidly changing and expanding, driven by factors such as rising income levels, growing consumer appetite and higher Internet usage."
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