Telangana’s startup incubator to foster women entrepreneurs, WE-Hub’s startup ‘Newsreach’ has raised an undisclosed amount from various investors.
While JITO Angel Network has led the investment round in the startup, other investors include CIIE Initiative startup Oasis, USA-based venture firm, Omnivore VC’s managing partner — Jinesh Mehta and ten-minute challenge investors who include Sharan Aggarwal, Bipin Shah, Pranav Khanna, Siddharth Ladsariya, V C Karthik, Anup Mehta and Taha Nabee.
The Ahmedabad-based startup, which is part of WE-Hub’s second cohort, helps local newspapers and reporters from rural and semi-urban areas go online. Its major aim is to a self-sustainable business model for them, where these newspaper publishers create their own identity and make money from their authentic and engaging hyper-local content in addition to the digital ad revenue from advertisement.
“We aim to be India’s first regional content syndication platform, wherein we syndicate the hyper-local and other content in text and video format from the local newspaper publishers and reporters for licensing it in an open market,” said Soniya Kundnani, who founded the company, along with Darshan Shah. Other than improving technology, acquire publishers and marketing the fresh capital, the company plans to venture into expand its offering to South Indian languages starting with Telugu. Currently, the company offers content in English, Hindi, Gujarati and Bengali. “We aim to expand and add five to six languages onto our platform in the next six months,” said Kundnani.
On the support it has received from WE-Hub, the founder said it is not an incubator, but an ecosystem in itself, right from setting goals, tracking progress, monthly reviews, periodical calls and unlimited support. “We are thankful to the Telangana government who thought of having WE-Hub incubator, the only incubator in the country to empower women entrepreneurs,” she said.
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