Pratilipi, an online self publishing platform, has raised around $9,25,000 in its seed funding round. In the current round, Nexus Venture Partners, participated, along with Contrarian Opportunities Fund I and Times Internet Ltd.
Along with them, Equity Crest founders Deepak Gupta and Amit Wadhwa also participated. Amit Banka, director at Voler Car also put in money as well.
Pratilipi allows writers to e-publish their poems, stories and other literary works. The readers can read that content on the platform for free of cost. It also offers content in eight Indian languages, including Hindi, Tamil, Malayalam, Oriya, Bengali, Gujarati, Marathi and Kannada.
It was founded in March 2015 by Ranjeet Pratap Singh, Sankaranarayanan Devarajan, Rahul Ranjan, Prashant Gupta and Sahradayi Modi.
It acts like a discovery and reading platform for readers. It claims to be working with more than 3700 writers and has about 1.5 million readers on the platform.
The startup was incubated by Times Internet. A recent report from Nielsen revealed that India’s book publishing market is currently the sixth largest in the world at Rs 26,100 crore. It further states that it is likely to touch Rs 73,900 crore by 2020.
Earlier this month, Ahmedabad-based Matrubharti also raised Rs 20 lakh (around $30,000) in seed funding from Viridian Capital.