Pratilipi said it will use the proceeds to develop offerings across platforms such as audiobooks, podcasts, comics
Digital vernacular content platform Pratilipi on Wednesday said that it has raised $48 million as part of a Series D round led by South Korean gaming giant Krafton Inc.
Existing investors including Omidyar Network India also participated in this round, along with startup founders including Unacademy’s Hemesh Singh and Gaurav Munjal, Delhivery co-founder Sahil Barua, Meesho co-founder Vidit Aatrey and Udhyam’s Mekin Maheshwari.
Pratilipi co-founder and CEO Ranjeet Pratap Singh also invested in this fundraise.
With this, the total amount raised by Pratilipi stands at $78.8 million.
Pratilipi said it will use the proceeds of this round to strengthen its intellectual property and develop its offerings across various formats, including audiobooks, podcasts, comics, web series, movies and games.
A part of the investment will also be utilized for expansion in overseas markets.
Through the investment, Krafton will also work with Pratilipi to identify the best stories that can be translated for its global gaming franchises.
The six-year-old firm is a storytelling platform that primarily focuses on Indian languages, including Bengali, Marathi, Malayalam, Tamil, Kannada, Urdu and Telugu.
It started as an online reading-writing platform in Indian languages and now claims to have over 370,000 writers and 30 million monthly active readers in 12 Indian languages.
“Over the last 12-18 months, we have seen a lot of progress, expanding into some new formats as well as finding newer ways for our creators to be successful. We are both pleased and privileged to partner with Krafton, who shares our love for great stories and intellectual property," Singh said.
Over the past 18 months, Pratilipi has launched two new products, Pratilipi FM and Pratilipi Comics, and acquired two companies, IVM Podcast and The Write Order.
Its Comics and FM offerings have 850,000 and 300,000 monthly active users, respectively, the company said earlier last month.
It has also started partnering with its ecosystem partners to bring engaging, high-quality literary content in other formats such as traditional books, web series and animation.