BGMI developer Krafton funded the Indian storytelling platform Pratilipi: Pratilipi, an Indian startup that’s a web-based storytelling platform acquired seed funding from the gaming large Krafton. Krafton developer of PlayerUnknown’s Battleground video games produces a number of video games all all over the world. On Wednesday it has raised $48 million in a brand new financing spherical led by Krafton. South Korean gaming large Krafton led the Collection D spherical for the seven-year-old Bangalore-based startup, bringing it’s to-date increase to $78.8 million.
Pratilipi, in a press release, “We’ve been part of Pratilipi’s progress story because the early phases,” mentioned Pratik Poddar, Principal at Nexus Enterprise Companions. “Through the years, we’ve got witnessed the crew’s deep product focus, an obsession to make creators profitable, and eager understanding of monetizing content material IP which is extensible throughout totally different codecs.”
Krafton is specializing in the Indian market the place the web market and gaming market is rising part. This was not the primary funding from the gaming large within the Indian firm. In 2021 Krafton invested 160 CR in Nodwin Gaming after that in addition they funded the streaming startup Loco.
Present investor Omidyar Community India, in addition to scores of high-profile entrepreneurs together with Pratilipi chief government Ranjeet Pratap Singh in addition to Unacademy’s Hemesh Singh and Gaurav Munjal, Locus’ Nishith Rastogi, Meesho’s Vidit Aatrey, Udhyam’s Mekin Maheshwari and NoBroker’s Amit Agarwal, additionally participated within the spherical.
Pratilipi began its journey as a web-based studying and writing platform the place writers shared their tales in a number of Indian languages. The concept on the time was to create a platform the place high quality literary work could possibly be hosted and shared in Indian languages, one thing that solely had sparse illustration on the internet, mentioned Singh, who’s a voracious reader of Indian literary work and labored at Vodafone earlier than beginning Pratilipi, in an interview with a information platform.