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India’s self-publishing platform Pratilipi has raised nearly Rs 22 Cr in equity & debt funding from Aletria Capital. The Bengaluru based firm had raised INR 76 Cr last year in a Series C round led by Chinese tech giant Tencent.
According to the regulatory filings, the company has raised INR 2 Cr debt funding while rest of the amount has come through equity infusion. Pratilipi has allotted 2000 Series A debentures (NCDs) to Aletria Capital at a nominal amount of Rs INR 1,00,000 each. The company has also allotted 118 Series C1 convertible preference shares to Aletria Capital for procuring equity funding of nearly INR 20 Cr.
Pratilipi has allotted Series C1 shares to Aletria Capital at a premium amount of Rs 1,69815.87 per share. The regulatory filings showed that Pratilipi has already received debt funding amount of Rs 2 Cr. It is expected to receive the rest of the funding, i.e. INR 20 Cr, in the coming weeks.
The Bengaluru based company earned a revenue of INR 5.55 Cr in FY20 as compared INR 1.16 Cr in Fy19, the ROC filings revealed. Its expenses, on other hand, in FY20 stood at nearly 42 Cr as compared to almost Rs 13 Cr in the previous year.
Pratilipi claims to be India’s largest digital publishing platform, allowing readers & writers to connect in 12 different Indian languages. Last year, the platform made its maiden foray into the podcast space by acquiring podcast firm IVM Podcasts. The deal marked Pratilipi’s first ever acquisition.
Apart from Tencent, the startup counts many other high-profile VC investors. This includes Omidyar Network, Shunwei Capital and Nexus Venture Partners.
Pratilipi was co-founded by four co-founders Prashant Gupta, Rahul Ranjan, Ranjeet Pratap Singh, Sahradayi Modi and Sankaranarayanan Devarajan. Ranjeet Pratap Singh is the CEO of the company.
