SillyMonks, a Hyderabad-based digital and entertainment start-up, on Monday announced that it has raised Rs. 3 crore from Sreenivasa Reddy Musani, chairman and managing director of Ektha Group.
Describing it as the largest HNI (high networth individual) investment in this space in South India, a release from the start-up said the funds would help increase the market leadership. It would also help the firm, which is a YouTube multi channel network partner, introduce new digital media properties. Founder and SillyMonks MD Sanjay Reddy said in the immediate short term, itplans to launch six web series properties on its channel ‘Silly Tube’. The company’s first Telugu web series Muddapappu Avakai , produced by Pink Elephant Pictures under SillyMonks Network, was well received.
