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.