Chennai

Jadooz raises funds for expansion

Chennai-based Jadooz, an entertainment startup, has raised ₹1.85 crore in funding from Artha Venture Fund and a group of regional celebrities.

With this, Jadooz intends to scale up its presence across India by setting up more properties. Jadooz wants to take movies to the rural pockets of India through mini-theatres that will typically have 50 seats. It will also house VR entertainment and gaming pods. “We are leading a ₹1.85 crore round of investment in Jadooz and are excited to be investing alongside Rannvijay Singh who is a strategic mentor,” said, Anirudh Damani, Managing Partner of Artha Venture Fund. “We see a big business opportunity in satiating this unaddressed demand which is why we decided to back Jadooz,” he added.

Rahul Nehra, founder of Jadooz, said, they were looking to set up over 250 mini-theatres. “We will have 5 such properties in Tamil Nadu by end of this year and around 25 by end of 2020,” he said.

Article source: https://www.thehindu.com/news/cities/chennai/jadooz-raises-funds-for-expansion/article27430032.ece

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