Digital storytelling platform Pratilipi has raised $20 million in a Series E funding round led by Singapore-based venture capital firm Jungle Ventures. Pratilipi's Co-founder and CEO, Ranjeet Pratap Singh, confirmed the funding, which comes after the company faced challenges securing capital over the past year.
Key Details
The $20 million round consists of $12 million in primary capital and $8 million in secondary transactions.
The funding values Pratilipi at $100 million, a significant decrease from its $265 million valuation in its 2021 Series D round led by Krafton.
The secondary deal allowed Chinese investors Qiming Venture Partners (partial exit) and Shunwei Capital (full exit) to sell their shares.
Pratilipi became cash flow positive in July 2024 after focusing on financial sustainability.
The company plans to use funds to expand into new formats like animation and vertical dramas, and increase its international presence.
Founder's Background
Ranjeet Pratap Singh, Co-founder and CEO of Pratilipi, holds an MBA from FMS, Delhi, and worked at Vodafone before founding the platform. An avid reader himself, Singh started Pratilipi out of a personal frustration with the lack of accessible Indian language literature online. He co-founded the company in 2015 with Sankaranarayanan Devarajan, Rahul Ranjan, Prashant Gupta, and Sahradayi Modi.
Funding Details
This Series E round, led by Jungle Ventures, included participation from angel investors like Khatabook co-founder Ravish Naresh and Leap co-founder Arnav Kumar. Pratilipi has raised over $100 million to date from investors including Krafton, Nexus Venture Partners, Omidyar Network, Tencent, and Alteria Capital. CEO Ranjeet Pratap Singh indicated this might be the final private funding round before exploring an IPO, potentially in 2026.