Intel Capital, the global investment arm of Intel, has announced that it has invested in Tag Media Network, which operates India 's first in-store television network. Intel Capital funding will help accelerate Tag Media Network's expansion, secure new staff and strengthen its sales and marketing initiatives. Details of the investment were not disclosed.

According to Dan Ginsburg, CEO of TAG Media Network, since launching one year ago, Tag Media Network has established itself as the first and largest retail television network in the country with a reach of over 10 million shoppers across 250 stores, and works with well-known retail companies such as Spencers, Trinethra, Foodworld, and Trumart.

“The Indian in-store television market has grown exponentially in the last year and Tag Media Network has been at the forefront of that expansion,” said Arvind Sodhani, president of Intel Capital. “This investment illustrates Intel Capital's commitment to India and our ongoing interest in fostering growth.”

 “Intel Capital's investment will allow us to quickly expand our store presence and provide innovative programming to consumers,” said Ginsburg. “We are especially pleased because as an investor, Intel Capital provides access to increased technological resources which will help us maintain and enhance our leadership position in the in-store television field in India."

Recent statistics from Technopak Advisors estimate that modern trade will grow from 3% of retail to 27% by the year 2015 in India, reaching $239 billion in sales. According to Ginsburg, Tag Media Network has formed an alliance with four major players in the modern trade industry, and is already the leading in-store retail television network in India in terms of viewership. Ginsburg also said that Tag Media Network hopes to expand its operations exponentially over the next financial year and by March 2008, to increase its reach to 30 million footfalls across 750 stores nationwide.

“Intel Capital's investment in Tag Media Network enables us to keep moving our business ahead and continue our leadership in in-store television media. We are also excited about the valuable expertise that Intel can provide to the technology side of the business,” said Bunty Peerbhoy, chairman, MAA Group Holdings, and vice chairman, Tag Media Network.

“Media and technology are converging more than ever and it is becoming a highly competitive space in India ,” said Sudheer Kuppam, managing director for India , Japan , Australasia and South-East Asia , Intel Capital. “We believe in-store television advertising is at an inflection point, with organized retail set to take off and hope that our investment will help Tag Media Network to capitalize on this growth opportunity.”