By Manish Singh
Pratilipi, an Indian startup that operates an online storytelling platform to enable writers to share their work in various formats, said on Wednesday it has raised a $48 million financing round led by Krafton.
South Korean gaming giant Krafton led the Series D round for the seven-year-old Bangalore-based startup, bringing its to-date raise to $78.8 million.
Existing investor Omidyar Network India as well as scores of high-profile entrepreneurs including Pratilipi chief executive Ranjeet Pratap Singh as well as Unacademy’s Hemesh Singh and Gaurav Munjal, Locus’ Nishith Rastogi, Meesho’s Vidit Aatrey, Udhyam’s Mekin Maheshwari and NoBroker’s Amit Agarwal also participated in the round.
Pratilipi started its journey as an online reading and writing platform, where writers shared their stories in several Indian languages. The idea at the time was to create a platform where quality literary work could be hosted and shared in Indian languages, something that only had sparse representation on the web, said Singh, who is a voracious reader of Indian literary work and worked at Oracle before starting Pratilipi, in an interview with TechCrunch.
The platform has ballooned to become a market leader since. Over 370,000 writers on the platform today share their work in a dozen languages and more …read more
Source: Tech Crunch