Matrix Partners India has invested Rs. 20 crores in vJive, an out-of-home media and digital signage network owned by Digital Music India (DMI) Pvt. Ltd. has received a VC funding of Rs. 20 crores. This is the first of the tranches of an overall Rs 100 crores for the company. Matrix’s Avnish Bajaj has joined the board of directors of DMI.
This is Matrix’s fourth investment in the year. It had earlier invested $7 million in Seventymm.com, an online DVD rental company, $5.5 mn in Moods Hospitality, the owners of food chain Yo! China Restaurants, and an undisclosed sum in a stealth mode start-up Four Interactive.
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