Delhi based POPxo, a website which details pop culture in the Indian youth, has raised $1.98 million from IDG Ventures, Kalaari Capital, along with participation from 500 Startups, reports ET. It will use the funds for expanding editorial operations for English and Hindi languages, launch new verticals, scale its video production and launch new mobile app features.
In November last year, the company had raised Rs 3 crore from multiple investors. At that time, it claimed to receive over 1 million monthly viewers.
The company was founded by Priyanka Gill and Namrata Bostrom in late 2013 and launched in March last year. It claims to have 3 million monthly readers and targets female visitors in the 18-34 age group on genres like fashion, beauty and lifestyle. The company currently has 40 employees and takes guest posts as well as contributions from other users.
It currently claims to have partners in Myntra, Lakme, Asian Paints, Swarovski, Vero Moda, Van Heusen, Westside and Wills Lifestyle. PopXO partners with brands to create customised content, run contests, host events and make social media campaigns for its partners.
Developments in the online media space in India:
– In September, online news and views platform YouthKiAwaaz raised Rs 4 crore (~$600,000) in a round of seed funding from Raghav Bahl led Quintillion Media. The platform would use the funding for expanding its team and business and investing in technology. Founded by Anshul Tewari, YouthKiAwaaz claims to completely crowdsource its content.
– In August, media company YourStory raised an undisclosed amount of funding in a Series A round of funding from multiple investors. The company said it would use the funds to launch a tech portal that would publish original stories in various Indian languages starting with Telugu, Bengali, Hindi, Marathi, Kannada and Tamil.
– The same month technology news portal iamWire raised an undisclosed amount of funding from China-based investors and high net worth individuals in India.
– In May, former editor of The Hindu Siddharth Varadarajan and one of the founding editors of DNA Sidharth Bhatia launched an online news publication called The Wire.
– In June, Rajasthan Patrika publisher The Patrika Group launched its first English news website called Catch, a month after it announced it would. The Patrika Group claimed that Catch would report on everyday policies and events with a focus on public interest.