Pratilipi, the self-publishing platform has endowed INR 70.68 Cr in Series C funding in a round led by Tencent. Many leading ventures were the part of fund mop-up of the Bengaluru-based startup including Bennett, Company Limited (Times Group), Coleman, Shunwei Ventures, Nexus Ventures, and Omidyar Network.
As per the deal, Pratilipi has offer 3,379 preference shares to Tencent, followed by Shunwei Ventures got 317 preference shares. ON Mauritius issued 254 preference shares while Times Group and Nexus Ventures got 106 each.
Tencent endow INR 57.39 Cr in Pratilipi
According to the earlier reports, Tencent was going to direct the Series C round of Pratilipi to boost up its portfolio on Indian startups. In June 2019, Pratilipi raised INR 105 Cr in a round led by a China-based venture. Furthermore, In February 2018, Pratilipi bagged $4.3 Mn in its Series A round of funding lead by Omidyar.
More News: Startup Unfold
Pratilipi is a self-publishing platform founded in March 2015 by Rahul Ranja, Sankaranarayanan Devarajan, Prashant Gupta, Ranjeet Pratap Singh, and Sahradayi Modi. This self-publishing is currently operational in 12 languages including Gujarati, Hindi, Marathi, Bengali, Tamil, Malayalam, Kannada, Telugu, Punjabi, Urdu, English, and Odia.
This online platform offers both professional and hobbyist writers a chance to publish their books, stories, and essays, which are ready by millions of people. There are more than 15 Lakh stories available on this platform and the mobile application has more than 1000 hours of audio story content.
Booklover can discern thousands of poems, stories, articles, novels, magazines, and essays other in vernacular languages for free. The application allows the user to create a free library. More than 10 Mn users have downloaded this app from the Google Play Store. Lately, Mumbai-based vernacular audio platform naming Kuku FM raised a $5.5 Mn Series.