Vernacular news aggregator Lokal bags $3 mn from 3one4, Y Combinator, others
Summary
Jani Pasha, co-founder at Lokal, said the firm focusses on having density in a particular location, and providing users with access to exclusive content. Lokal, which was founded by Jani Pasha and Vipul Chaudhary in June 2018, firm uses a network of stringers and freelance reporters to provide original news content in a particular location. For instance, in August, artificial intelligence-driven content startup Instoried raised $500,000 (around Rs 3.57 crore) in a seed funding round from incubator and accelerator Venture Catalysts. In June, self-publishing e-platform Pratilipi raised $15 million (around Rs 104 crore) in a Series B funding round led by the China-based Qiming Venture Partners. Prior to that, in May, vernacular hyperlocal news platform PublicVibe raised an undisclosed sum of money in a funding round led by the Indian Angel Network.