Digital storytelling startup Pratilipi raises $20 million; valuation slashed more than 60%

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A year after struggling to mop up funds to meet its working capital requirements, digital storytelling platform Pratilipi has closed a $20 million round led by Jungle Ventures. However, the deal has been struck at a significantly lower post-funding valuation of $100 million, cofounder and CEO Ranjeet Pratap Singh told ET.

The Bengaluru-based startup had previously raised $48 million during the 2021 boom days of venture funding. PUBG maker Krafton had led the funding round at that time at a valuation of $265 million.

Of the total $20 million raised by…



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Digital storytelling startup Pratilipi raises $20 million; valuation slashed more than 60%


A year after struggling to mop up funds to meet its working capital requirements, digital storytelling platform Pratilipi has closed a $20 million round led by Jungle Ventures. However, the deal has been struck at a significantly lower post-funding valuation of $100 million, cofounder and CEO Ranjeet Pratap Singh told ET.

The Bengaluru-based startup had previously raised $48 million during the 2021 boom days of venture funding. PUBG maker Krafton had led the funding round at that time at a valuation of $265 million.

Of the total $20 million raised by…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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