BGMI developer Krafton funded the Indian storytelling platform Pratilipi: Pratilipi, an Indian startup that is an online storytelling platform received seed funding from the gaming giant Krafton. Krafton developer of PlayerUnknown’s Battleground games produces multiple games all around the world. On Wednesday it has raised $48 million in a new financing round led by Krafton. South Korean gaming giant Krafton led the Series D round for the seven-year-old Bangalore-based startup, bringing it’s to-date raise to $78.8 million.
Pratilipi, in a statement, “We have been a part of Pratilipi’s growth story since the early stages,” said Pratik Poddar, Principal at Nexus Venture Partners. “Over the years, we have witnessed the team’s deep product focus, an obsession to make creators successful, and keen understanding of monetizing content IP which is extensible across different formats.”
Krafton is focusing on the Indian market where the online market and gaming market is growing phase. This was not the first investment from the gaming giant in the Indian company. In 2021 Krafton invested 160 CR in Nodwin Gaming after that they also funded the streaming startup Loco.
Existing investor Omidyar Network India, as well as scores of high-profile entrepreneurs including Pratilipi chief executive Ranjeet Pratap Singh as well as Unacademy’s Hemesh Singh and Gaurav Munjal, Locus’ Nishith Rastogi, Meesho’s Vidit Aatrey, Udhyam’s Mekin Maheshwari and NoBroker’s Amit Agarwal, also participated in the round.
Pratilipi started its journey as an online reading and writing platform where writers shared their stories in several Indian languages. The idea at the time was to create a platform where quality literary work could be hosted and shared in Indian languages, something that only had sparse representation on the web, said Singh, who is a voracious reader of Indian literary work and worked at Vodafone before starting Pratilipi, in an interview with a news platform.