Middle East agency receives major funding boost
The Middle East’s first female-founded entertainment agency is stepping up its expansion plans after confirming a multi-million dollar funding round led by Abbey Road Investment Group.
Dubai-based IAM Entertainment is looking to continue its growth across the region through live shows and talent management, as well as film and TV productions.
Co-founded by Sonal Vara-Parmar six years ago, IAM has worked with artists such as Mariah Carey and Lady Gaga and was also a partner for the Expo 2020 world fair, which featured concerts by superstars including Alicia Keys, Black Eyed Peas and Coldplay.
‘The second phase of our growth plan will see us cementing the region as one of the most desirable and commercially viable locations for movie and TV production,” adds Vara-Parmar. “Enabling a boost to the economy through building a new talent pool and job creation. IAM Entertainment has achieved significant success in the six years since we started but this is nothing compared to what we will achieve in the next five years.”
“This significant investment is crucial for our future growth strategy”
According to data analysts Magnitt, just 11% of Venture Capital funding in 2021 in the UAE, went to female founders.
“This significant investment is crucial for our future growth strategy,” says IAM COO Ash Parmar. “A priority for us as a company is being able to invest heavily in our live shows division, bringing never-before-seen, chart-topping, international artists to the region in order to showcase their talent to the region’s residents and tourists alike.”
Arjun Mittal, CEO of Abbey Road Investment Group, adds: “IAM Entertainment has been on our radar for many years, and this has been an incredible growth story. We were delighted to be able to partner with IAM to create even bigger waves in the entertainment industry in the region.”
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