Way2News, a city-based vernacular quick information app has raised USD 16.75 million as a part of its Series-A spherical from traders WestBridge Capital and famend enterprise capitalist Sashi Reddi.
A press launch from the agency mentioned the funding marks WestBridge Capital’s debut funding within the media and leisure sector in India.
The firm plans to make use of the recent capital to increase its person base throughout Tamil Nadu, Karnataka and Kerala and on hiring groups in editorial, gross sales, advertising, and scaling their sturdy AI-based know-how to reduce human intervention in delivering credible information.
“At a time when existing social media and news syndication platforms may falter to find reliable local news, Way2News has cracked the code, enabling users to find credible news from small towns and villages while ensuring depth of coverage. Our mobile-first, crowd sourced News Platform, coupled with smarter AI-based quality checks, is revolutionary and sustainable,” mentioned Raju Vanapala, founder and CEO of Way2News.
“Way2News has shown a remarkable ability to scale and grow capital efficiently. Their user acquisition approach, engagement, and retention rates are unique and best-in-class in the industry. Their focus on providing delightful experiences to users and passion to make Way2News the largest vernacular platform excites us, and we look forward to a long partnership with them,” mentioned Sumir Chadha, co-founder and managing director at WestBridge Capital.
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Source: www.financialexpress.com”