Online news aggregator NewsDistill has raised INR 67 lakh in Seed funding from a group of investors. The investors included Ganesh Narasimhan, Ramana Thumu, and Sudhir Mallem.
Launched in 2015, NewsDistill founded in 2015 by Narasimha Reddy aggregates news sourced from various Indian newspapers, television channels, RSS feeds, custom feeds and social media in eight major Indian languages including English, Hindi, Telugu, Malayalam, Kannada, Marathi, and Tamil.
It follows an algorithm and uses machine learning and analytics to offer the ‘news in a moment, at a glance’ feature to its users.
Narasimha Reddy, founder, NewsDistill said,
“There is a huge demand for personalised news feed on mobile apps especially for those who wish to spend quality time reading similar news from various media channels through multiple languages and quick filters. NewsDistill is embarking upon expansion and product development to meet the demand. The current round of investment will be used towards product development and talent acquisition,”
The firm is planning to raise another $1,00,000 in the next two months.