Short news app Way2News raises $16.75 million in Series A funding led by WestBridge Capital
- ByStartupStory | June 11, 2022
Way2News, a Hyderabad-based hyperlocal short news app, has raised $16.75 million in a Series A round led by WestBridge Capital and venture capitalist Sashi Reddi. This is WestBridge Capital’s first investment in India’s media and entertainment sector.
The startup intends to use the funding to expand its user base across Tamil Nadu, Karnataka, and Kerala, according to the official release. It will also invest in hiring editorial, sales, and marketing teams, as well as scaling its robust AI-based technology to reduce human intervention in delivering credible news.
Raju Vanapala, the founder and CEO stated that at a time when existing social media and news syndication platforms may struggle to find trustworthy local news, Way2News has cracked the code, allowing users to find credible news from small towns and villages while maintaining depth of coverage. The company’s mobile-first, crowdsourced news platform, combined with smarter AI-based quality checks, is both revolutionary and sustainable.
Way2News, which was founded in 2016, provides short news updates that have been reviewed by editorial staff. It is well-known for its hyperlocal news and allows verified stringers to write and contribute on a regular basis.
Over 30,000 on-the-ground reporters in AP and Telangana contribute 5,000 stories from 23 districts, 1,100 mandals, and towns. The startup has more than eight billion monthly screen views and an MAU to DAU ratio of more than 50%.
Sumir Chadha, Co-Founder and Managing Director at WestBridge Capital said that Way2News has demonstrated a remarkable ability to efficiently scale and grow capital. Its user acquisition strategy, engagement, and retention rates are unparalleled in the industry. Its focus on providing delightful user experiences, as well as its determination to make Way2News the largest vernacular platform, excites everyone.
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