New Delhi-based two-year-old internet media and news startup, ScoopWhoop has raised $4 million from Kalaari Capital.
The startup that is trying to become BuzzFeed of India started in November 2013. The company plans to use the latest round of funding for aggressive expansion of its video production unit, ScoopWhoop Talkies.
Moreover, it plans to invest in hiring editorial resources across beats for different publications. It also aims to set up sales and content team to service its 100+ brand partners.
Sattvik Mishra, CEO, ScoopWhoop said, “In the last 12 months we have grown almost 300%. We’ve managed to put a great team together, across portals, that drives almost 20 million unique visitors monthly. And, with this funding we look forward to being the no. 1 digital media company in India by 2017.”
ScoopWhoop raised $1.5 million in September 2014, from Ignite World, formerly known as Bharti Softbank. It clocks around 20 million unique visitors, 70 million page views, 30 million social engagements and over 10 million video views per month.
This is in line with the trend of online news and media startups raising funding. Earlier this month, another lifestyle & content platform, POPxo raised an amount of $2 million (about Rs 13 crore) in Series A round of funding from IDG Ventures India, Kalaari Capital and 500 Startups. In September, online site for news and opinion based articles, YouthKiAwaaz raised an angel funding of $600,000 from Quintillion Media, a digital media venture founded by Raghav Bahl and Ritu Kapur.