Hyderabad-based Ikonz Studios has roped in Bollywood actor Amitabh Bachchan as its strategic partner. The wealth-building start-up, which helps IP owners and artists manage their digital assets, plans to raise funding over $10 million in an upcoming Series A fundraising round. 

“I am intrigued with the way technology is evolving and the pace at which new innovations are coming up worldwide, one such being generative AI. I am happy to be a part of such an amazing futuristic world of generative AI and have therefore partnered with Abinav-promoted Ikonz. Together we shall embark on this new metaverse world,” Bachchan told Bollywood Hungama. 

“Amitabh Bachchan has come on board as a strategic partner in the company. Since he is part of our company, we will be exclusively building multiple digital IPs based on his attributes,” Abinav Varma Kalidindi, the co-founder and CEO of Ikonz told The Economic Times. 

“We are potentially raising over $10 million in Series A round and are in advanced stages of due diligence with numerous investors globally,” he added. 

The prospective Series A funding round will help the company expand its team globally, develop new AI tools for the entertainment industry, and aggregate entertainment IPs. 

Last March, the company raised seed funding from multiple investors, including Microsoft founder Bill Gates-backed Village Global, Woodstock Fund and Polygon Studios. 

Founded in August 2021, Ikonz is backed by actor-investor Rana Daggubati and Anthill Ventures' founder Prasad Vanga. It helps artists and creators to navigate different means to monetisation and upscale their intellectual property.