Pratilipi Raises $20 Million for US Expansion, New Formats

Pratilipi, India's leading digital storytelling platform, has secured $20 million in a Series E funding round led by Jungle Ventures, aimed at expanding into new formats like animation and vertical drama shows while entering the U.S. market. This funding round, which included $12 million in primary investment and $8 million in secondary investment, values the company at $100 million, a significant decline from its previous valuation of $265 million. Pratilipi's co-founder, Ranjeet Pratap Singh, noted that this round is expected to be their last before a potential IPO, which they plan to pursue by 2026. The company intends to establish a presence in the U.S. focusing on both the Indian diaspora and the broader audience. Singh emphasized the importance of adapting to market conditions, acknowledging challenges in securing funding during a downturn. Despite the valuation drop, Pratilipi has achieved profitability and aims to leverage this funding to diversify its offerings and enhance its market position.