An Indian news website, TheBetterIndia has raised Rs 10 million in angel round from Intellecap Impact Investment Network with participation from Myntra’s co-founder Raveen Sastry. The company claims to quickly scale up traffic, and plans to raise its next round of funding in 12 months, besides looking forward to create a long-term strategic partnership with a large media or publishing house.
TheBetterIndia publishes stories of unsung heroes, change-makers, innovations, education, children, women empowerment, travel, history, arts & culture, and social development. The company is leveraging media and technology to monetize this in different ways. It claims to have half a million monthly readers, 100,000+ social media followers and 100+ writers contributing from all over India.
This news comes in the phase where there is a lot of investment action in digital media space. In February this year, Indian mobile app startup, News in Shorts had raised Rs 25 crore. Also, in the same month, India’s home grown news reader app, NewsHunt had secured Rs 250 crore in series C funding. And another online media company VCCircle had also gotten acquired recently by NewsCorpCategory Business Investments