Avendus Capital advises Pratilipi on its USD 48 mn fundraise led by KRAFTON Inc.

At Pratilipi, our vision has always been to democratize storytelling across languages, geographies and formats. Over the last 12-18 months we have seen a lot of progress, expanding into some new formats as well as finding newer ways for our creators to be successful. We are both pleased and privileged to partner with KRAFTON, who shares our love for great stories and IP. We can’t wait to work together with KRAFTON and our other investors on the next phase of our journey to take our stories and our storytellers to a much wider audience across the globe.

It is exciting to see the growth of Indian local IPs in online literature, comics and audio platform in Pratilipi, which is already the largest player in India in multiple categories. With Pratilipi already having a multilingual platform for online literature, it is poised to become one of the strongest players in emerging markets in the future. KRAFTON believes in long term potential of local Indian IPs that can be successful not just in India but globally as well across formats including literature, comics and gaming and our investment in Pratilipi is another step in realising that vision.

Pratilipi has helped shape a vibrant online literature ecosystem across 12 Indian languages over the past six years. They have helped create hundreds of thousands of writers by providing them a platform with large viewership that also engages millions of readers with high-quality literary content. We are thrilled to make our fourth consecutive investment in Pratilipi as they now look to apply their creator centric focus, rich literature IP and learnings from building for India’s Next Half Billion to new formats such as comics, audio and podcasts. We are also excited by the role Pratilipi can play in helping creators to monetise their talents across formats and contribute to increasing digital employment in the country.

We have been a part of Pratilipi’s growth story since the early stages. Over the years, we have witnessed the team’s deep product focus, an obsession to make creators successful, and keen understanding of monetizing content IP which is extensible across different formats. With more strategic and financial investors joining this round we are very confident about the company’s compelling success and are excited for the team as they embark on a new growth journey.

Pratilipi has the largest online storytelling community across formats - including literature, comics, audio and more. Ranjeet and team’s passion for promoting the local language storytelling ecosystem for Bharat has enabled Pratilipi to reach unprecedented scale and leadership in India. With its creator and product focus and tech-led DNA, the platform continues to drive quality engagement within the community. KRAFTON's partnership is a big testament to the immense potential in Pratilipi's vision towards developing IPs on the back of great storytelling.