Adversing services provider NKN Media raises $4-M from 1XL founder

Dubai- and Chennai-based NKN Media has raised USD 4.08 million from Dhiraj Jain, the founder of 1XL. This transaction values the company at USD 81.69 million and provides the investor with a 5% equity stake in the firm.Established in 1999, the company focuses on media and television distribution and has been transitioning into a diversified media entity. Its operations include a portfolio of original intellectual properties, entertainment formats, international events, and media partnerships.The company intends to use the new funds to accelerate its expansion beyond the UAE and strengthen its presence in the global media and entertainment ecosystem.1XL Holdings is a Dubai-based holding and business ecosystem platform that provides infrastructure, marketing frameworks, and capital to help companies grow.