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Indian storytelling firm Pratilipi raises $48 million in funding led by Krafton

Pratilipi, an Indian storytelling platform, announced on Wednesday that it has raised $48 million in a funding round led by Krafton, the famous Battlegrounds Mobile India developer.

Along with Hemesh Singh and Gaurav Munjal (Unacademy), Sahil Barua (Delhivery), Vidit Aatrey (Meesho), Nishith Rastogi (Locus), Mekin Maheshwari (Udhyam), Amit Agarwal (NoBroker), and Ranjeet Pratap Singh, CEO, Pratilipi along with Omidyar Network India also participated in the Series D round.

Pratilipi, which is based in Bengaluru, has raised $78.8 million so far, with over 3,70,000 creators and over 30 million active monthly readers in 12 Indian languages.

“We can’t wait to work together with Krafton and other investors on the next phase of our journey to take our stories and our storytellers to a much wider audience across the globe,” remarked Ranjeet Pratap Singh, CEO of Pratilipi.

Pratilipi has received over 50 lakh tales, which have been read over 5 billion times.

Pratilipi Comics, the largest online comic portal in India, is owned and operated by the storytelling brand. Over 2,80,000 audio narratives and podcasts are available on Pratilipi FM.

According to Pratilipi, the additional funding would assist the company to enhance its IP acquisition and development across various formats, such as audiobooks, podcasts, comics, movies, web series and games. Pratilipi and Krafton will begin their hunt for some of the finest stories to turn them into internationally popular game franchises.

Sean Hyunil Sohn, the head of Krafton’s Indian arm states, “It is exciting to see the growth of the Indian local IPs in online literature, comics and audio platforms on Pratilipi. The platform already has a multilingual platform for online literature, and it is poised to become one of the strongest players in emerging markets in the future.” 

IVM podcast was acquired by Pratilipi apart from its tie up with MX Player for Midnight Lily show.

“We are excited by the role Pratilipi can play in helping creators to monetise their talents across formats and contribute to increasing digital employment in the country,” stated, Aditya Misra, Principal at Omidyar Network India.

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