New Delhi, Jun 30 (PTI) Animation content maker Cosmos-Maya has plans to invest USD 50 million, about Rs 395 crore, over a period of next two years to expand its presence in Europe and foray into North America, the company said on Thursday.

The company aims to grow its business 5 times in the next three years driven by a rapid increase in demand for animation in India and international markets over the last few years coupled with the habit of binge watching, which took off during the pandemic.

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"The company has drawn up a blueprint to significantly scale up in new geographies with an investment in the range of USD 50 million, expanding in the EU and establishing a significant scale in North America. The company is reported to be evaluating multiple acquisition opportunities to have a strong on-ground presence in the USA and Canada,” Cosmos-Maya founder Ketan Mehta said.

The company is investing to further strengthen tech infrastructure and on board global talent. Alongside the international expansion, Cosmos-Maya has teams that will focus on building on its dominant leadership position in the Indian animation market.

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The company has plans to set up studios across multiple cities in India to cater to the fast-growing demand for kids' content in India, the statement said.

"Cosmos-Maya has been a pioneer in the field of Indian kids animation, and has established market dominance in India through its popular IPs like Motu Patlu, Vir the Robot Boy, Selfie with Bajrangi etc. The company has now set sight on building a strong international presence by aggressively expanding in the North American market," Mehta, said.

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