Last Updated on 14/07/2021 by Riya
In a new fundraising round lead by Krafton, Pratilipi, a platform for aspiring writers, received $48 million. Pratilipi is a well-known Indian story-telling platform that allows aspiring writers to publish their content with the public at large. Pratilipi has experienced rapid growth in recent years, and in addition to telling stories, the company also assists writers in making money by purchasing their best writing works, which they believe might be turned into a book or web series.
Users can read or listen to their favorite stories in both book and audio format. The platform contains stories of all genres in a variety of Indian languages. Many big video streaming platforms have teamed with the startup, including MX Player, which showed one of Pratilipi’s stories, “Midnight Lily,” previously this year. “Over the years, we have watched the team’s significant product concentration, a passion to make writers popular, and great knowledge of monetizing content IP that is extendable throughout numerous formats said Nexus Venture Partners, one of Pratilipi’s investors.
Furthermore, the writers can also profit from their stories by costing the reader a membership fee. The demand for fascinating stories has risen as the number of video streaming platforms has grown; although, it is no longer as easy to find good stories, and as a result of this growing demands, several video streaming platforms have partnered with publishing giants to offer the best content to their users. The funds raised are expected to aid the startup in expanding its partnerships with other video streaming platforms and establishing an in-house publishing firm.
It is believed that Krafton hopes to integrate Pratilipi’s stories into their gaming platforms by funding them.The start-up had been backed by several prominent Indian entrepreneurs including Hemesh Singh, Gaurav Munjal, Nishith Rastogi, Vidit Aatrey, Mekin Maheshwari, and Amit Agarwal.