Interaction One Solutions Pvt Ltd, a Bangalore-based digital publishing startup, has raised $1 million from early stage fund SDSS Management Services LLP, reports VCCircle. The company will use the funds raised to hire new talent and also to expand its infrastructure.
Interaction One, founded by Krishna Prasad in 2012, is a digital publishing startup. According to the report, its publishing platform, ScreennPlay enables magazine publishers to customize and publish digital versions on mobile devices and tablets. However, the company is yet to launch the platform and its website is currently accepting signups to notify individuals to inform when they launch. However the report states that the platform will be launched in four months and that the company plans to focus on the Indian Magazine market.
It needs to be seen how Interaction One can differentiate itself from other players in the market. At the time of writing this article, Interaction One’s business model and the products the company plans to offer is not clear.
In February 2013, RockASAP, an ebook initiative by Handygo Technologies had announced its partnership with publishers like Diamond Comics Books, OM Books, Rajkamal Prakashan, Katha, Times Group and Pratham increasing the number of publishers available on Rockstand from 54 to 100. The app also features magazines.
Apart from that, there’s Magzter, a digital newsstand. The application is available on smartphone/tablet platforms such as Windows 8 RT, Android, and Apple’s iOS. Apart from that, Google also offers an separate app for magazines, which is not available in India yet.
On Going Mobile (Nikhil adds)
Why just focus on the magazine market? There’s a much wider publishing market out there. In any case, that itself is a very very crowded space with heaps of application developers looking to help publishers transition to the mobile space. July Systems (what happened to them?) started doing that a few years ago, and there are services like Mobstac and Pingala. The problem with going mobile for publishers is that the costs are often front loaded: costs money to go there (unless you’re using a wordpress plugin like we are), but the revenues aren’t there unless you’re mass market and have scale. Even if you do set up a mobile site like we have, the monetization piece is just tedious. That said, mobile is inevitable.