Bengaluru-based company YourStory, which showcasts Indian Startups has raised an undisclosed amount from Ratan Tata, former Infosys board member T V Mohandas Pai besides Vani Kola and Karthee Madasamy, managing directors of VC firms Kalaari Capital and Qualcomm Ventures India. Shradha Sharma, who launched YourStory.com in October 2008, founder and chief editor of YourStory.com, posted this news on her website on Monday morning. She said the company is launching a tech product that will help people to write, talk and view their own stories in native Indian languages.
This is the first external funding for the digital media company. YourStory primarily generates revenue from advertisements on site besides the events it hosts.
In July, mobile news curator News in Shorts, which aggregates third-party news and presents it in 60 words, received $20 million in a Series B round from existing investor, Tiger Global. Both companies have since renamed themselves with NewsHunt becoming DailyHunt and News in Shorts becoming InShorts.
Ratan Tata, the chairman emeritus of Tata Sons, the private holding arm of the business, has been investing in Indian as well as international tech startups for the past year and this makes for the tenth known investment by him. he also funded ventures like Ola, Paytm, Snapdeal, Urban Ladder, Bluestone and CarDekho besides investing in Chinese handset maker Xiaomi.