Online Media and News Startup Scoopwhoop Gets $4 million in Fundraising from Kalaari Capital.
Bengaluru, India | Red Newswire | Nov 18, 2015 Last Updated at 06:00 PM IST.
ScoopWhoop, the online news startup becomes another startup in the list to get funding. It has raised $4 million from Kalaari capital. The company said the funds will be used to expand its another initiative “ScoopWhoop Talkies” – its video production unit.
The company was launced back in 2013 and is majorly focused on the Indian youth. It raised $1.5 million last year in September from Ignite World (earlier Bharti Softbank). ScoopWhoop sold 36.5% stake to ignite World in November 2014. Ignite World or Bharti Softbank is the joint venture of Softbank Corp. and Bharti Enterprises. The company was initially funded by Gravy Partner led by Siddarth Rao of WebChutney.
Discussing it plans further, the company said it will invest in editorial resources besides setting up a native content and sales team. The site observes 20 million visitors, 70 million page views, 10 million video views as well as 30 million engagements per month.
Sattvik Mishra, CEO ScoopWhoop said, “In the last 12 months we have grown almost 300%. We’ve managed to put a great team together, across portals, that drives almost 20 million unique visitors monthly. And with this funding, we look forward to being the number 1 digital media company in India by 2017.”
With the rising demand for online content, investors have been giving much attention to the online media and news portals. This month also saw POPxo raising $2 million and YKA Media raised Rs. 4 crore from Quintillion Media.