The Print is a web-based multimedia news platform covering events in India and across the world
Former editor-in-chief of The Indian Express newspaper Shekhar Gupta’s media venture Printline Media Pvt. Ltd has raised an undisclosed amount of funding from angel investors.
The investors includes former Tata Sons Ltd’s chairman Ratan Tata, managing director of Kotak Mahindra Bank Uday Kotak and Infosys co-founder Nandan Nilekani, investing money in the company in their personal capacity.
Anchor investors include Biocon Ltd founder Kiran Mazumdar Shaw, Bangalore-based tech-entrepreneur Rajiv C Mody and Paytm founder Vijay Shekhar Sharma.
“We have raised money from a diverse set of individuals. The venture is moving towards its logical conclusion. We will make a formal announcement very soon,” said Gupta.
The company will use the money to launch its news site The Print, a multimedia digital news platform, in the next three months. Shekhar Gupta has already hired around 50-odd people for his news venture and has set up an office in Express Building, his former office in New Delhi.
The investors will reportedly hold close to 20% equity in Printline Media. The remaining stake will be held by The Print founder Shekhar Gupta.