Indian publishing company, Juggernaut which launched its operations on Tuesday, has raised undisclosed amount of funding led by FabIndia’s founder William Bissell, Infosys’ co-founder Nandan Nilekani and Neeraj Aggarwal, managing director of Boston Consulting Group India.
Chiki Sarkar, former publisher of Penguin India and editor-in-chief of Random House India, started Juggernaut, with Durga Raghunath, CEO and co-founder, who launched Firstpost and was CEO, Web18. The firm’s website is currently in beta stage of development.
Juggernaut aims to give authors both a digital and a physical platform and pursue new ways of commissioning and rethinking the reading experience, book distribution and payments. The company would publish books in every genre including literature, commercial, children’s, business and lifestyle.
Both the Founders are from a publishing and media background. “Having started my career in book publishing, I am delighted to return with a strong digital lens. There are more Indians accessing the Internet, reading, writing and paying online than five years ago. I cannot imagine something more exciting than rethinking the underdeveloped book market and getting Indians to read,” said Durga Raghunath.
The startup will publish 50 titles each year, starting from April 2016. It will be distributed and warehoused by Hachette India.
On one hand digital media startups in India are raising investments to scale up, on the other, experienced media professionals are trying to take the growth a step further by creating mobile first platforms. In a related announcement today, Raghav Bahl led Quintillion Media made an investment in a technology driven publishing platform for mobile first media.