VC Fund Investments
Publishing platform Pratilipi attracts $20-M in down round led by Jungle Ventures; 2 Chinese investo
Bengaluru-based digital storytelling platform Pratilipi has raised USD 20 million in a Series E funding round led by Jungle Ventures. The deal has been struck at a significantly lower post-funding valuation of USD 100 million, compared to the valuation of USD 265 million when PUBG maker Krafton had led the company’s USD 48 million funding round in 2021.In the latest round of funding, USD 12 million has come in as primary capital in exchange for an issue of fresh shares, while the rest is through secondary deals, providing an exit to Chinese investors Qiming Venture Partners and Shunwei Capital.Pratilipi plans to use the primary funds to expand into newer formats and geographies, starting with the US. Presently, the startup is heavily dependent on text-based stories, with more than two-thirds of its revenue coming from literature.Founded in 2015 by Ranjeet Pratap Singh and others, Pratilipi also owns and operates Pratilipi Comics, podcasting studio IVM Podcast, Pratilipi FM and publishing house Westland Books.
Between Feb 2016 and Jan 2025, Pratilipi had attracted about USD 82 M from Nexus Venture Partners, Contrarian Drishti, Omidyar Network, Shunwei Capital, WEH Ventures, Qiming Venture and Alteria Capital.For FY24, Pratilipi had reported about INR 58 Cr in Operating Income and about INR 58 Cr in Net Loss.
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