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Pratilipi, an app that is uniting writers in India and encouraging others to try their hand at storytelling, has just raised $15 million to expand its network in the nation.
The Series B financing round was led by Qiming Venture Partners. Existing investors Nexus Venture Partners, Omidyar Network India, Shunwei Capital, Contrarian Vriddhi Fund, and WEH Ventures also participated in the round. The five-year-old startup has raised about $21 million to date.
Ranjeet - Pratap - Singh - CEO - Pratilipi
Ranjeet Pratap Singh, CEO of Pratilipi, describes his platform as “YouTube for writers.” In an interview with TechCrunch, he said more than 100,000 writers are active on the platform and it has amassed over 5.2 million monthly active readers.
Pratilipi mostly focuses on text and audio storytelling in Indian languages, a niche space but one that also remains largely untapped. Singh said that the platform has managed to attract a very loyal reader base. An average reader spends about 53 minutes on the app, while web users spend about 15 minutes there.
People - Cities - Towns - India - Online
As people from smaller cities and towns in India come online for the first time, there has been a huge surge in the demand for content in local languages in recent years. Ankush Sachdeva, CEO and cofounder of social networking platform ShareChat, said earlier this year that he was surprised to see how quickly ShareChat had built a community with tens of millions of users by just offering content...
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