Pratilipi, a storytelling firm, helps writers in sharing their stories globally via different formats on its platform. The startup got support from gaming giant Krafton in terms of a $48 million investment.
Krafton Invests in Pratilipi
South Korean gaming platform Krafton has invested a sum of $48 million in Indian startup Pratilipi in a Series D financing event. Bangalore based Pratilipi has raised $78.8 million to now including the current round.
Existing investor Omidyar Network India, Unacademy’s Hemesh Singh and Gaurav Munjal, Meesho’s Vidit Aatrey and others also participated in the current round. Pratilipi CEO Ranjeet Pratap Singh also participated in the current round in his capacity.
Pratilipi investors are happy with the current growth rate of the firm. Nexus Ventures, one of the early investors in Pratilipi, stated that it is the early backer of the storytelling platform. And the investment firm is satisfied with the startup’s product focus and the exponential growth it has shown over the years. Pratilipi is committed to its creators and representing their work in different formats is one of the unique features of the startup.
With current funding, Pratilipi plans to collaborate with other industry firms. In addition to that, in-house publishing stack building is another area where startup wants to invest the fresh funds, as stated by Pratilipi CEO Singh.
Pratilipi has created a niche for itself in the storytelling sector. The startup began its journey seven years back as online reading and writing platform. Writers share their stories in different languages over the startup platform.
Pratilipi’s main goal was to provide a platform for quality works. Singh, the CEO of Pratilipi, is himself a regular reader of such content. He worked in Vodafone before starting his firm.
Within a short period, the startup has attracted over 3.7 lakh writers who share their stories regularly on the Pratilipi platform. The startup has a huge user base of around 30 million readers monthly who consume the contents in twelve Indian languages, as per Pratilipi claim.
Recently, the startup has extended its operations in book publishing comics and audio-based content. The users can either subscribe to premium content or they can read the free content on the platform.
In 2020, the startup acquired a local language podcast platform named IVM Podcasts. In Q1 of 2021, Pratilipi has also signed an agreement with video streaming video platform MX Player to run its popular show “Midnight Lily”.