Private Equity Fund Investments
Storytelling platform Pratilipi raises $48-M from Korea's Krafton, Omidyar, others
Advisor Disclosure Economic Times
Bengaluru-based online storytelling platform Pratilipi has raised USD 48 million (about INR 357 crore) in its Series D round, led by South Korean gaming company Krafton Inc. Existing investor Omidyar Network India also participated in the round along with a clutch of startup founders, including Gaurav Munjal, co-founder of Unacademy; Sahil Barua, co-founder of Delhivery and Vidit Aatrey, co-founder of Meesho. Avendus Capital was the exclusive financial advisor to Pratilipi on the transaction. The funding will help the company strengthen its IP acquisition and development across various formats including audio books, podcasts, comics, web series, movies and games. Part of the investment will be used to expand into overseas markets. Pratilipi is a storytelling community with over 3,70,000 creators and over 30 million monthly active readers across 12 Indian languages.
From the Venture Intelligence PE-VC Deal Database: Between Feb-16 and Apr-20, Pratilipi had raised more than INR 215 crore from Qiming Venture, WEH Ventures, Shunwei Capital, Contrarian Drishti, Omidyar Network, Nexus Venture Partners and Tencent. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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