BANGALORE: Digital media and content firm Trivone Digital Services Ltd completed its first round of funding by raising an undisclosed sum from the US-based venture capital Accel Partners, the company said Tuesday.
"The fund will be utilised for working capital requirements and pushing growth through the inorganic route in the near future," Trivone founder chief executive S. Subramanyan said in a statement here.
The 18-year-old Accel has helped entrepreneurs and management teams across the globe to build over 300 companies in different categories.
"We look forward to work with Accel to chart our growth plans and leverage its expertise in strengthening our services in the new age digital media," Subramanyan said.
The year-old Bangalore-based start-up firm caters to a cross-section of enterprises by creating, sourcing and packaging content for online delivery.
"We are upbeat on Trivone building a best in class digital media firm with domain expertise to offer managed services to its clients," Accel partner M. Balachandran said in the statement.
Trivone began its operations early this year by acquiring management rights for three IT portals - techtree.com , channeltimes.com and cxotoday.com from the Mumbai-based media entertainment firm UTV.
"As internet penetration in India is at the cusp of rapid growth, we see a huge opportunity to grow, both online and mobile," Subramanyan added.