Laqshya Media gets $37.44 mn PE fund

MUMBAI: Laqshya Media's UAE subsidiary Right Angle on Monday said it has obtained an equity participation of over Rs 152 crore ($37.44-million) from Amwal Al Khaleej, a leading funding group in the Gulf.

This funding will help in spreading the Laqshya footprint to the entire Arab world, a release said here on Monday.

Laqshya Media is Rs 100-crore plus player in the Indian out-of-home (OOH) segment and the only OOH company globally to offer a complete basket of OOH products.

This is the second large funding to the group in less than nine months. In October 2006, the group had got its first private equity funding from UTI Ventures to the tune of $10 million.

Right Angle Media had recently acquired permission to design, erect and operate 1,000 air-conditioned bus shelters in Dubai.

Laqshya Media holds a significantly valuable and diversified portfolio of media assets in the OOH space and provides total solutions in the out-of-home space through bill boards, bus shelters, hoardings, stadia rights and digital screens.