Real Image to Raise Rs 800 million in 3rd Round of Funding

Chennai-based Real Image Media Technologies is planning to raise Rs 600-800 million in a fresh round of funding as it plans to expand its digital cinema operations.

"We are looking at a third round of funding within 6-12 months and expect to raise Rs 600-800 million," says Real Image Media Technologies director Senthil Kumar.

Intel Capital, the venture capital investment arm of Intel Corporation, had participated in the second round and is understood to have put in Rs 300 million. Real Image also has Street Edge and Novastar as initial investors.

The funds will be mainly used for rolling out digital cinema and development work. "We also plan to expand in the area of 3D," says Kumar.

Real Image is targeting a revenue of Rs 1 billion this fiscal. The company has installed 550 digital systems in theatres across India and 150 in overseas markets. Real Image's systems are used in 150 E-City backed theatres while 100 are taken by Pyramid Saimira.

"Our main clients overseas are in US, Canada and Korea. Theatres will have to invest Rs 3 million in our up-end systems. Most of the users, however, have used our Rs 1-1.2 million systems which can be upgraded," says Senthil.

Real Image is also looking at acquisition opportunities overseas. "We are eyeing technology companies which can further expand our market," says Senthil.

Real Image is a company which specialises on digital entertainment technology in the film, video, audio and animation industries worldwide.

By Anindita Sarkar, IndianTelevision