Online site for news and opinion based articles, YouthKiAwaaz has raised an angel funding of Rs.4 crore from Quintillion Media, a digital media venture founded by Raghav Bahl and Ritu Kapur.
BMR Advisors and Novistra Capital acted as transaction advisors to Quintillion Media and Youth Ki Awaaz respectively. As per the deal, Ritu Kapur will join the board of the YouthKiAwaaz.com’s parent company- YKA Media Private Limited.
The raised funds will be used by the company to expand its team, grow its business model and to also improve upon its technology.
YouthKiAwaaz is an online platform where an individual can express him/herself on critical issues. It aims at providing a platform to individuals through their thoughtful and opinionated stories by making use of online and mobile journalism, social and new media tools.
According to Anshul Tiwari, founder of YouthKiAwaaz, the website receives over a million readers a month and has contributions from over 30,000 writers from across India and the world.
This is the third round of investment made by Quintillion Media which was founded by Raghav Bahl sold his stake in Network18 to Reliance Digital in 2014 for Rs.700 crore.
This is in line with the trend of Indian online media startups raising funding. Yourstory raised an undisclosed amount of funding from Ratan Tata and others to launch a tech product. iamwire also raised an angel investment of undisclosed amount from China based investors Li Tao, Founder & CEO, APUS Group; Li Jian, Founder & CEO, Draphant Consultants; and other investors including, Nitin Garg, Saurabh Jain and Mohit Agarwal. Last year ScoopWhoop had raised Rs. 10 crore.Category Investments