Tencent leads funding in India's Gaana

Tencent Holdings Ltd is making a fresh bet in expanding its music portfolio and footprint by leading an investment in an Indian music streaming service.

The internet giant is leading a $115 million funding round, together with Times Internet Ltd, a local media and technology firm that incubated Gamma Gaana Ltd, the companies said on Wednesday.

The Indian startup will use the capital to further invest in technology to use artificial intelligence to personalize music experiences and further develop its subscription product for paying users, according to a joint statement.