The Pratilipi online storytelling platform announced that he had raised fresh funds from $ 48 million from Krafton – Publishing maker.
This funding round requires the total number of Pratilipi has increased until the date to $ 78.8 million.
Bangaluru Pratilipi headquarters is combined in 2015 by Prashant Gupta, Sahradayi Modi, Rahul Ranjan, Sankaranaranyanananananananananan Devarajan and Ranjeet Pratap Singh.
It began as an online reading writing platform in Indian which now has more than 3.7 lakh writers and 30 million active readers monthly in 12 Indians.
During the last 18 months, PratiLipi has launched two new products; Pratilipi FM and Pratilipi Comics and acquired two companies; IVM podcast and writing order.
It also starts partnering with ecosystem partners to bring interesting and high-quality literary content in other formats such as traditional books, web series and animations.
“With the investment of Krafton, Pratilipi and Krafton will also start working to find the best Pratilipi stories that can be translated into a globally successful gaming franchise,” said the company in a statement.
This new round will help Pratilipi strengthen the acquisition and IP development in various formats including audio books, podcasts, comics, web series, films and games etc.
Part of the investment will be used for expansion in several foreign markets, it was added.
“During the last 12-18 months we have seen a lot of progress, expanding some new formats and finding new ways for our creators to succeed.
We are both happy and special to partner with Krafton, who share our love for great stories and IP,” said Ranjeet Pratap Singh, CEO, Pratilipi.
Investors of existing companies, Omidyar Network India, also participated in the round with a number of new founders including Hemesh Singh and Gaurav Munjal (Unacademy), Nishith Rastogi (Locus), Sahil Barua (Meesho), Vidit Aatrey (Meesho), Mekin Maheshwari (Udhyam ), Amit Agarwal (Nobroker) and Ranjeet Pratap Singh, CEO, Pratilipi.
Avendus Capital acts as an exclusive financial advisor for Pratilipi about this transaction.
Pubg Maker, Krafton, Invests $ 48 million in Pratilipi
