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Matrix backs Indian advertising startup

vJive has secured a $22.6 million commitment from Matrix Partners India to install digital video screens in stores and other locations across India, according to Business Standard. Matrix Partners India has invested $4.5 million of that sum so far. The company is currently installing some 2,000 screens, used to display advertising and promotions, and plans to have up to 100,000 deployed by 2010, according to Rajesh Jog, co-founder and CEO. Avnish Bajaj, managing director at Matrix Partners India, is joining the board of vJive parent Digital Music India. www.vjive.net