Debt financing
Self-publishing portal Pratilipi raises $1.2 M from Alteria Capital
Bengaluru-based self-publishing platform Pratilipi has raised INR 10.11 crore (about USD 1.2 million) in a bridge funding round, in a mix of equity and debt, from Alteria Capital. About INR 5 crore was raised in debt and the rest in equity funding.The funding round comes a month after Pratilipi raised about INR 15 crores via optionally convertible debentures (OCDs) from individual investors. Pratilipi is also in talks to raise about USD 12 million more.Founded in 2015 by Ranjeet Pratap Singh, Sankaranarayanan Devarajan, Rahul Ranjan and Sahradayi Modi, Pratilipi is an Indian language storytelling platform, connecting readers and writers in 12 languages. It claims to have a readership and listener base of 15 million subscribers and over 9.5 lakh writers.
Between Feb 2016 and Jul 2021, Pratilipi had raised about USD 81 M from Alteria Capital, Omidyar Network, Nexus Venture Partners, Shunwei Capital, Tencent, Contrarian Drishti, Qiming Venture and WEH Ventures.For FY24, Pratilipi had reported about INR 58 Cr in Operating Income and about INR 58 Cr in Net loss.
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