YourStory, an online media platform which is focused on covering entrepreneur’s journey and experience, has raised around ₹40 crore ($6 million) in a new round of funding.
The funding round was led by Ratan Tata’s UC-RNT Fund, along with Kalaari Capital, 3one4 Capital and Qualcomm Ventures. The company is now targeting to generate revenues of around ₹26 crore ($4 million) for FY2017-18.
Commenting on building YourStory, Shradha Sharma, founder of the media platform, said,
Building a digital media business that tells stories of entrepreneurs is a fanciful dream, and we chose to live that dream with utmost pride and insane drive every day, every single day since 2008.
The dream to build a global new-age digital media business out of India is once in a lifetime opportunity, and we are pursuing it with all heart and insanity.
The company has also set its eyes on expanding its platform to international markets. Recently, it started YourStory Germany to cover the ecosystem there and aims to bring entrepreneurs from Germany and India closer to collaborate and form rewarding long-term relationships.
For its Germany venture, it has partnered with Maren Lesche, a communication and start-up expert based in Germany. It will soon expand to other markets, and the newly raised funding round will surely help the company in doing so.
Prior to this round, YourStory had earlier raised an undisclosed amount in Series A round in 2015. That round was led by Kalaari Capital with participation from existing investor Qualcomm, T.V. Mohandas Pai and Ratan Tata.
Following that funding round, the media company acquired Papyrus Editor — an e-book editing and publishing platform. The company, which was founded in 2008 runs start-up reporting portal YourStory.com, and has verticals including SocialStory, HerStory, and YourStory Research. The company also has two flagship standalone events — MobileSparks and TechSparks.
There are several startup and tech reporting portals like YourStory, but very few choose to raise funds as most depend on advertising and events to grow revenue.