In a statement Inc42 said there were a total 42 investors who participated in this round including Singapore Angel Network, Singapore-based M&S Partners Pte Ltd, Pranav Pai, Arihant Patni of Hive Technologies among others.
The two-year-old startup plans to use the funds raised to build out the technology arm of the company and bring in new formats that will cater to the country’s burgeoning startup ecosystem.
In January last year, the company had announced closure of its angel round of funding led by Ritesh Malik of Guerrilla Ventures, Nikunj Jain of Innox apps (now Frankly.me), Dewang Neralla, CEO & Director Atom Technologies, Prabhu Ram, Ex-EBS among others.
The Delhi-based company, which provides news and related content, also runs a number of entrepreneur and startup-focused events, such as as Pulse42, StartupPulse, and more recently, launched Campus Misfits.
In August last year, Bengaluru-based YourStory Media, which runs YourStory.com, has reportedly raised between $3-$5 million led by Kalaari Capital. Mobile News curator InShorts also raised $20 million in its Series B round from existing backer Tiger Global Management.
Here is a list of other media startups in India that raised funding in 2015.
Disclosure: DEALSTREETASIA competes with Inc42 in India, and both companies have a common investor in Singapore Angel Network.