Nasadiya Technologies Private Limited, doing business as Pratilipi and operates as an online self publishing portal, announced that it has raised about Rs 71 crore in its Series C round, led by Chinese internet giant Tencent, according to documents filed by the Bengaluru-based startup with the Registrar of Companies.
According to the filings, Pratilipi’s existing set of institutional backers, which includes Omidyar Network, Shunwei Capital and Nexus Venture Partners, have also participated in the company’s latest capital raising.
Bennett, Coleman & Co, the publisher of The Economic Times also took part in the current financing round.
Additionally, Tencent, which has backed some of India’s top technology unicorns, such as Byju’s, Udaan, Swiggy and Dream11, has also picked up one equity share in Pratilipi, which has a nominal value of Rs 10 per share, at a premium of Rs 1.69 lakh per share, according to the filings.
Earlier in 2019, the company raised $15 million in its previous round of funding led by Chinese venture capital firm Qiming Venture Partners.
The company was founded in 2015 by Ranjeet Pratap Singh and Sankaranarayanan Devarajan, Prashant Gupta, Sahradayi Modi and Rahul Ranjan. Pratilipi is a discovery and reading platform for users that also allows writers to publish their literary work.
Pratilipi currently offers services in 12 languages including English, Hindi, Urdu, Bengali, Gujarati, Marathi, Tamil, Malayalam, Odia and Kannada.
The Company offers a platform which allows users to publish and read original works such as stories, poetry, essays, and articles. Pratilip serves customers worldwide.
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