Mythik, a media-tech startup building an entertainment universe around Eastern mythology and folklore, has raised $5 million at a valuation above $50 million.
The round drew high-profile new backers including Dream11 co-founder Harsh Jain and former McKinsey Global MD Rajat Gupta.
The raise comes a year after Mythik closed a $15 million seed round, the largest in India's media-tech sector at the time.
Mythik Closes $5 Mn Round, Draws Dream11 Founder and McKinsey Veteran as Backers
The new investor list reads like a cross-section of India's business and finance establishment. Dream11 co-founder and CEO Harsh Jain is among the backers, as is Rajat Gupta, former Global Managing Director at McKinsey and co-founder of the Indian School of Business
Mythik
Summary
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Mythik, the media-tech startup building an entertainment universe around Eastern mythology and folklore, has closed a $5 million funding round that pushes its valuation past $50 million.
The raise comes roughly a year after the company announced a $15 million seed round, the largest in India's media-tech sector at the time, and marks a fresh vote of confidence from a mix of new and returning investors.
Who Came In
The new investor list reads like a cross-section of India's business and finance establishment. Dream11 co-founder and CEO Harsh Jain is among the backers, as is Rajat Gupta, former Global Managing Director at McKinsey and co-founder of the Indian School of Business. Zubin Bharti Mittal, representing the Bharti Mittal Family Office, also participated, along with Ishan Sinha, who heads private investing at Point72, a US-based global investment firm managing over $50 billion in assets.
Blume Founder's Fund joined the round alongside Rooshabh Shah, Managing Director of SVAR Projects.
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Several investors from the earlier seed round also returned. These include Sakal Media Group, one of Maharashtra's largest media houses, led by Abhijit Pawar, along with Anirudh Patni of the Patni Family Office, Samarth Parekh of the Parekh Family Office and Samir Vora, formerly Group CEO of Enam Asset Management. Mythik founder and CEO Jason Kothari also participated.
What Mythik Does
Mythik is building what it describes as a tech-first global entertainment company rooted in stories from Indian and Eastern mythology, history and folklore, a market it says has a built-in global audience of 3.5 billion people. The company has a team of 200, which includes alumni from Disney, Amazon Studios, UTV, Jio, Tencent, MX Player, Amar Chitra Katha and Walmart.
Kothari, who founded the company, has previously described the venture's ambition as creating a "Disney from the East", bringing ancient narratives to global audiences through modern, technology-driven formats.
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In a statement, Kothari said the new investors add global networks and strategic depth to the company's existing backer base, and that the continued participation of earlier investors reflects long-term confidence in the company's direction.
Mythik has not disclosed the specific use of proceeds from this round.