WittyFeed is a media content firm. The firm announced yesterday (23/11/2017) that it has received an undisclosed amount of funding from Sandeep Aggarwal, the founder of two firms namely: the used car marketplace, Droom and the e-commerce portal, ShopClues. Generally, Sandeep Aggarwal invests in startups in the range of Rs. 25 lakhs to 1.5 crores. Sandeep Aggarwal has been investing in startups for the past two years, since 2015. He had plans to invest in twelve Indian startups this year (2017) but refrained due to ‘unfavourable market conditions’. He might carry over his investment plan on Indian startups to next year (2018). Read more on Investments
“I had invested in five startups in 2015, followed by seven in 2016”, Mr. Aggarwal said.
Mr. Aggarwal generally invests in startups belonging to the healthcare, data science, and artificial intelligence sectors. This is the first time he has invested in a startup belong to the media content sector.
“While most of my investments will be in India, I am looking to invest in horizontal marketplaces in South East Asia”, Mr. Aggarwal said.
WittyFeed was founded in 2014 by SRM University graduates, Vinay Singhal (CEO), Shashank Vaishnav (CTO) and Parveen Singhal (content head). WittyFeed is an Internet-based media company that publishes news on fashion, lifestyle, travel, inspiration, relationships, health and fitness and posts ads on its website, related to the content published. WittyFeed is the world’s second largest internet media company and is based in Indore, India. The company reportedly generated revenue of US $6 million in 2016 and employs over 120 people. The company got an undisclosed amount of funding in Pre Series round of funding from a group of angel investors during September, this year (2017). There are not many internet media startups in India and the only other internet media startup that got funded last year (2016) was Pocket Aces, which secured US $3 million in seed round of funding from global VC firms like Sequoia Capital India, Aarin Capital, 3one4 Capital, Axilor Ventures and FreeCharge during December 2016. Read more on Startup News