Whalesbook
Mythik, the AI-powered entertainment startup founded by former Housing.com and Freecharge CEO Jason Kothari, has successfully raised $5 million in fresh capital. This latest funding round values the Mumbai-based company at over $50 million.
The investment saw participation from prominent figures and firms, including Dream11 CEO Harsh Jain, Indian School of Business cofounder Rajat Gupta, Blume Founders Fund, Zubin Bharti Mittal of the Bharti Mittal Family Office, Ishan Sinha from Point72, and Rooshabh Shah of SVAR Projects. Existing investors like Sakal Media Group, Patni Family Office, and Parekh Family Office also contributed, extending a previous $15 million round from May last year.
Accelerating Growth Plans
The additional capital infusion is earmarked to accelerate the scaling of Mythik's content slate, enhance its technology platform, and support its launch and growth strategy across digital experiences and consumer products. Kothari stated that the funding will enable the company to build a "category-defining tech-first global entertainment company." The startup aims to leverage storytelling from Eastern cultures, specifically adapting Indian mythology, history, and folk tales into engaging short-form videos of approximately 10 to 12 minutes.
Global Reach with AI
Mythik's core strategy involves utilizing artificial intelligence to transform traditional narratives into accessible digital content. The company is targeting a vast potential global audience of 3.5 billion people. Products are expected to be introduced in stages later this year, signaling an aggressive rollout plan.