your password has been reset successfully, Please login again.

Digital media platform Pratilipi secures $4.3 million funding from Omidyar Network

Pratilipi raises $4.3 million (Rs.28 crore) funding from Omidyar Network and some new as well as existing investors also took part in the investment round.
BY BEx Bureau
BusinessEx
Feb 05, 2018

Startup accelerator and early-stage seed fund TLabs accelerated the content publishing platform Pratilipi has raised $4.3 million funding in Series A round of funding led by investment firm Omidyar Network and other investors.

The new investors which also took part in the funding round were Shunwei Capital and WEH Ventures. Existing investors which took part in the round were Nexus Venture Partners, Atul Goel, Contrarian Capital and Times Internet.

In 2014, the Bengaluru-based startup was founded by Prashant Gupta,Rahul Ranjan,Ranjeet Pratap Singh,Sahradayi Modi,and Sankaranarayanan Devarajan. The startup focuses on publishing content on their mobile application in 8 different languages which are Hindi, Telugu, Gujarati, Marathi, Tamil, Bengali, Kannada, and Malayalam. The startup plans to use the raised funding to focus on their technology so that they can improve their features of their product and make it more personalise it for users.

Singh said, We started Pratilipi with the vision that language should not be a barrier for people to share their stories with each other. We are really happy and proud that we have been able to find investors who understand the problem we are tackling and believe in the power of stories to connect us together.

Siddharth Nautiyal, Investment Partner, Omidyar Network, said, Pratilipi has demonstrated steep growth to become the largest destination platform for long format vernacular writing and reading catering to the needs of millions of Indian language internet users. Their success would be crucial in the creation of an engaged community of millions of readers and hundreds of thousands of vernacular writers.

In 2016, the startup has raised funding of $1 million in a round led by Nexus Venture Partners.

Sandeep Singhal, Co-founder MD, Nexus Venture Partners, says, The Pratilipi team is reimagining vernacular content publishing and consumption and are solving a crying need. We love their maniacal focus on community creation and making authors the center of their universe, and feel privileged to be partnering with them in their mission.

Please add your Comment
SIMILAR News
June 13, 2018
The fund plans to invest in seven to eight startups this year ...More
By Sanjana Surbhi
June 01, 2018
Sequoia India, which first invested in Pine Labs in 2009, remains the company’s largest shareholder ...More
By Sanjana Surbhi
June 01, 2018
Maiya initially raised funds from Ascent Capital and later from Peepul Capital ...More
By Sanjana Surbhi
May 31, 2018
WeWork operates nearly 1-million-sqft space at present and has a million sqft more signed up already ...More
By Sanjana Surbhi
May 31, 2018
Uber received $1.25 billion from a large deal with SoftBank in January ...More
By Sanjana Surbhi
May 31, 2018
The telecom settled its eight month dispute with Swedish telecom equipment maker Ericsson ...More
By Sanjana Surbhi
May 31, 2018
Azim Premji invests in private companies to become prosperous public companies ...More
By Sanjana Surbhi
May 29, 2018
The bid by UltraTech is nearly Rs 1,000 crore higher than the offer by Dalmia Bharat Group ...More
By Sanjana Surbhi
May 29, 2018
The company is now planning to enter into tier II and III cities by doubling its distribution networ ...More
By Sanjana Surbhi
May 29, 2018
Alibaba Health's CEO added that the deal would help the firm expand by adding new categories to its ...More
By Sanjana Surbhi
May 28, 2018
Amazon is expected to co-create financial products with the insurance tech start-up, besides being i ...More
By Sanjana Surbhi
May 28, 2018
As CFO, Balakrishnan will also be in charge of the dividend RBI pays to the government ...More
By Sanjana Surbhi