enil spardha: ENIL buys a significant minority stake in music platform Spardha

Entertainment Network India Ltd (ENIL), which operates the leading FM radio brand Mirchi, has taken a significant minority stake in e-learning music startup Spardha, in a bid to boost its digital transformation as a mobile entertainment brand.

This is ENIL’s first external investment, and with this move, the company has shown interest in strategic investments to build long-term shareholder value.

Commenting on the investment, ENIL CEO, Yatish Mehrishi, said: “Even as we become a mobile-first entertainment brand and busy building the Mirchi Plus app engine, we are keen to explore a number of new areas. We can build these in-house, or we can Investing abroad. E-learning was one such space we were interested in building from a D2C standpoint, but it would have been better if we invested in a sector leader like Spardha, rather than building inside ENIL.”

Founded in 2020, Spardha is a platform that caters to individuals with specific educational requirements and aims to reinvent the music learning space by addressing issues in music education.

Spardha offers three types of courses: for beginners who start at a young age, for music lovers across age groups, and for individuals who pursue music as a career.

Not only does the platform focus on making sure students get a complete syllabus and certified instructors, but it also ensures that they have a seamless virtual classroom experience.

“We at Spardha strongly believe that there are multiple opportunities where Spardha and Mirchi can collaborate for the common interest of helping Spardha grow faster and improve its brand visibility in the market,” said Saurabh Srivastav, Founder, Director and CEO of Spardha. many international markets, as Spardha is focused on the next level of growth.”

He said Mirchi’s strong international presence will help Spardha improve its branding and marketing strategies to penetrate deeper into those markets at a faster pace.

“Spardha is looking to capitalize on Mirchi’s prowess in building strong consumer-oriented brands, its deep involvement in the film and music industries, as well as its advertising revenue and B2B sales ecosystem,” said Srivastav.

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