Self-publishing platform, Pratilipi raises seed funding of $925k from Nexus Ventures

Bangalore based self-publishing platform, Pratilipi has raised a seed funding of Rs 6.3 crore from Nexus Ventures and other investors.

Founded in March 2015 by Singh, Sankaranarayanan Devarajan, Rahul Ranjan, Prashant Gupta and Sahradayi Modi, Pratilipi claims to have more than 3700 writers and has about 1.5 million readers on board.

The platform allows writers to publish their poems, stories and literary works that readers can read for free. Pratilipi also organized the first Indian language digital festival, Bhasha.

Earlier this month, Ahmedabad-based Matrubharti Technologies Pvt. Ltd, which runs e-book publishing platform Matrubharti, had raised around $30,000 in seed funding from Viridian Capital.

A recent survey by market research agency Nielsen revealed that India’s book publishing market is currently the sixth largest in the world at Rs 26,100 crore, and is likely to touch Rs 73,900 crore by 2020.

Source: vccircle