Spunklane Media Pvt. Ltd owned The News Minute, a startup that focuses on creating news content of South India, has raised fund from Quintillion Media. The financial figures of the fund have not been disclosed.
The raised capital will be deployed towards marketing content for a wider audience and for brand building.
With this development, Ritu Kapur, co-founder of Quintillion Media and Raghav Bahl, founder & former MD of Network 18, will join the company’s board.
The News Minute was founded in 2014 by Chitra Subramaniam, Dhanya Rajendran and Vignesh Vellore. It is a news and media digital platform dedicatedly focussed on the five southern states – Andhra, Karataka, Kerala, Tamil Nadu and Telangana. The content ranges from news reportage to opinions and blogs.
Adding a comment on the development, Vellore said, “Our aim is to merge traditional journalism with the latest developments in the digital space. We want to focus on UI so as to keep the audience more engaged with the content we publish. We are also looking at using tools to improve performance and loading aspect especially with low-bandwidth connections.”
As per Tracxn, digital media platforms in India have raised about $73 million funding this year in total. Among them, NewsInShorts ($24 million in 2015), PopXO ($2 million) and ScoopWhoop ($4 million) are a few.