Kaydence Media Ventures Plans to Raise Rs. 5 Crore for Goa Chronicle.com

At a time of COVID-19 when media businesses in India are shutting shop due to a strain in costs while revenues are dipping, Goa-based startup Kaydence Media Ventures Private Limited (KMV) is close to raising Rs. 5 crore by offering of 5 per cent equity into the online news portal GoaChronicle.com.

[caption id="attachment_152111" align="alignleft" width="321"] Savio Rodrigues, MD & CEO, Kaydence Media Ventures Private Limited[/caption]

KMV has received Letter of Intent from Hi-Tech Natural Products (India) Ltd. to acquire 5 per cent equity in the GoaChronicle.com online news portal.

Commenting on the discussions on equity acquisition, Savio Rodrigues, MD & CEO, Kaydence Media Ventures Private Limited, expressed, "After 10-years, we decided to reach out to potential investors because we believe we have created a respectable brand. We were looking at raising Rs. 5 crores by offering 5 per cent stake in GoaChronicle.com. Our intent is to expand our informer networks, enhance our technology and grow our global presence. We have received the Letter of Intent from Hi-Tech Natural Products (India) Ltd. We are currently in discussion to structure this intent legally."

Speaking on their intent to acquire 5 per cent stake in GoaChronicle.com, Devvrat Sharma, Director, Hi-Tech Natural Products (India) Limited said, "We believe in the GoaChronicle.com team. GoaChronicle.com has garnered a cult-like status for its investigative style of journalism globally. With our financial support at this stage, we are confident that GoaChronicle.com will grow to a global brand from India in journalism.We are keen to acquire 5 per cent equity in this online news portal brand."

While India accounts for majority of GoaChronicle.com viewership, it has a large following among the NRIs in US, UAE, UK, Australia, Canada, Russia and Asian countries like Singapore, Phillipines and Malaysia.

UAE based Kaydence & Kianna to Launch Virtual Incubation hub for Media Startups

Kaydence Media Ventures, the media arm of the UAE based Kaydence & Kianna is all set to launch its innovative news and virtual incubation hub platform focused on startups - Incubees - in India and Middle East & North Africa and Asia-Pacific.

The ‘Incubees' initiative and a prototype of its platform was recently displayed at the Investor Demo Day held at Forum of Innovation Incubation Research and Entrepreneurship (FIIRE) Hub in Goa this week.

Commenting on the new initiative, Savio Rodrigues, Founder, Kaydence Media Ventures stated, “Our aim is to find an idea, nurture it and give it winds beneath its wing to fly. India, MENA and Asia-Pacific are regions bustling with new ideas, energetic young minds and purpose-driven innovations to make their regions and the world a better place. We need to encourage the process of ideation and give them a platform to shares their ideas, find mentors to help take an idea and build it into an enterprise; find partners and investors that can make the idea into a reality. Incubees - is that angel in the media space that helps the idea find a reality."

In highly competitive and vibrant startup markets in India, MENA and Asia-Pacific, the Incubees team believes its unique focus on individuals, ideas and markets will carve a niche for its platform, “Most news portals in India, MENA and Asia-Pacific tell you stories of startups in the Seed or Growth or Scaling Stage and Maturity, Exist, IPO or M&A Stage but we are focused on the Concept or Idea Stage, Pre-see or Validation Stage and Seed or Early Traction Stage. More importantly the platform has an inbuilt service of a Virtual Incubation Hub to reach out to young minds at their homes and garages where their ideas are germinating,” expressed Rodrigues.

India is currently home to over 14,600 startups, approximately 270 incubation & business acceleration programs according to the Startup India 2018-19 Report

Myrtle Rodrigues, Co-founder, Kaydence Media Ventures, expressed, “We want to focus on those bright minds that don't have the voice and opportunity to take forward their ideas from their homes to the world, connect them to strategic mentors and create an eco-system of ideation and implementation of ideas. In our first phase we are focusing on India and Middle East and in the second phase on the Asia-Pacific markets.”