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Friday, September 30, 2022

Hyperlocal news app, Way2News, raises $16.75 m – Mrit News

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Hyperlocal vernacular short news app, Way2News, has raised $16.75 million in Series-A funding round from investment firm WestBridge Capital and venture capitalist Sashi Reddi.

The company plans to use the fresh capital to expand user base across Tamil Nadu, Karnataka and Kerala. It will invest on hiring teams in editorial, sales, marketing and scaling their robust AI-based technology to minimise human intervention in delivering credible news, Way2News said in a release on Thursday.

Founder and CEO Raju Vanapala said Way2News enables users to find credible news from small towns and villages while ensuring depth of coverage.

For WestBridge Capital’s, it is the debut investment in the media and entertainment sector in the country. “We look forward to a long partnership with them,” said Sumir Chadha, co-founder and MD at WestBridge Capital.

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