Bangalore-based online media publication The News Minute has closed an undisclosed angel round of funding from Quintillion Media, reports Mint. The News Minute focuses on curating news and content from southern India.
The website was started in 2014 by Chitra Subramaniam, Dhanya Rajendran and Vignesh Vellore. Subramaniam is a veteran investigative journalist who is best known for exposing the Bofors scam along with journalist N Ram with The Hindu and The Indian Express. She also reported on the Bosnian war, arms control, the General Agreement on Trades and Tariff (GATT) and the World Trade Organization.
Rajendran was formerly the south India head for television news channel Times Now. Rajendran reported extensively on Indo-Sri Lanka politics, human rights violations and corruption. Vellore worked in human resources in a software firm before joining the News Minute.
The News Minute plans to use the funds to hire more reporters and enhance its technology. Mint added that the news media startup currently has 12 reporters and plans to start offering content in more regional languages.
In September, online news and views platform YouthKiAwaaz raised Rs 4 crore (~$600k) in a round of seed funding from Raghav Bahl led Quintillion Media. Founded by Anshul Tewari, YouthKiAwaaz claims to completely crowdsource its content. To contribute content, users only need to sign in using Facebook, Google+ or Twitter after clicking on the submit link. Users are then prompted to enter their names, email ids, topic of contribution, the article to be posted and attachments if any.
Recent developments in online media
– Earlier this month, DealStreetAsia, a digital media platform based in Singapore, raised an undisclosed amount in its first round of funding from Vijay Shekhar Sharma, founder and CEO ofPaytm and Singapore Angel Network (SGAN), with participation from HT Media and other unnamed investors.
– In November, media company Tech in Asia announced its expansion to India, two years after it started covering the Indian startup scene on its main website. The company has also appointed an initial team of editorial, business development and events staff for operating in India.
– The same month, Mashable launched Mashable India, a local edition of the popular website, in partnership with India.com. The company has a dedicated editorial team based in Mumbai and New Delhi for coverage from India.
– Times Internet had partnered with a large number of International publishers, including Gizmodo, Lifehacker, Business Insider, Huffington Post India, Adage, ReadWrite, Remodelista, Techradar, IGN India, AskMen, Pursuitist, among others, to launch local editions.