Pratilipi, a digital storytelling firm, plans to expand internationally, beginning in the United States. Despite the fact that approximately 4% of the platform’s existing user base is from outside of India, the firm has primarily targeted the domestic market thus far. The self-publishing and audiobook company has increased its attention to markets outside of India since the most recent investment round.
Earlier this month, the startup raised $20 million in a Series E round led by Jungle Ventures. The round included $12 million in primary investment and $8 million through secondary share sales.
With the newly infused capital, Pratilipi has begun its pilot experimentation in the US. It has started with literature, one of its most popular formats in India. Seventy-seven per cent of the firm’s revenue comes from literature, 12% from Westland Books (publishing wing), 6% from IVM Podcasts (podcasting platform) and 5% from other business units. “India is our home country. With any new product we launch, we will start with India. What’s already proven here is what we will take outside. Since literature is our biggest product, we started with the same in the US,” Ranjeet Pratap Singh, co-founder and CEO, Pratilipi, told FE.
