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POPxo Raises $5.5 Mn To Fight India’s Next Digital Media Battle: Vernacular Content

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26.04.2018

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“India, a nation with over 1600 dialects, has 30 languages spoken by more than a million native speakers each.”

A January 2018 report by Deloitte India predicts that the vernacular content consumers in the country will be 2.5 times of those who prefer English by 2021. While the news and print media majors are already riding on the vernacular content bandwagon, the digital media and entertainment platforms are quickly catching up the pace.

With a user base of 14.3 Mn users, the New Delhi-based POPxo – a women focussed digital media startup in the entertainment tech space – is now eyeing the opportunity offered by India’s rich culture. In its endeavour, the startup was supported by a consortium of investors, both local and international, thus, opening up a lot of markets for the team.

As Priyanka Gill, the Founder and CEO of POPxo shared with Inc42 in an email conversation, the startup has raised $5.5 Mn (INR 37 Cr) in a round of funding led by Neoplux (Doosan Group, Korea) and OPPO (China). Existing investors IDG Ventures India, Kalaari Capital, GREE Ventures (Japan) and Summit Media (Philippines) also participated in the latest round of funding, which takes the total (disclosed) funding in the startup to $11 Mn.

Earlier, POPxo has raised three funding rounds including $3.1 Mn in April 2017, $2 Mn in November 2015 and an undisclosed amount in 2014.

Commenting on the fundraise, Priyanka said, “With this investment........

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