Digital Media Tech Startup Newsreach Receives INR 1 Crore Seed Funding Launched by Darshan Shah and Soniya Kundani, Newsreach is India's first local news community, empowering vernacular hyper-local publications
By Paromita Gupta •
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On Tuesday, the 2018-founded digital media tech startup Newsreach announced that it had received a seed funding of INR 1 crore as an incentive for being selected among the top 15 winners of the Startup Stairs initiative 'Growth Acceleration Program with 4i' and was felicitated by Tejasvi Surya, a Member of Parliament.
Launched by Darshan Shah and Soniya Kundani, Newsreach is India's first local news community, empowering vernacular hyper-local publications. It aims at an equitable content ecosystem which allows creators to license their original work across the network.
"Currently, the advertising industry is highly reliant on search and display advertising provided by industry giants namely, Google and Facebook which offers limited engagement and ROI. There is no dedicated solution for brands to reach the 500M+ users from tier 2 cities and beyond. With our tech platform, brands get an opportunity to explore Advertorial and sponsored content as a form of advertising to reach local audience. The funding we have received from Startup Stairs has made NewsReach fully subscribed in the current round of funding," shared Darshan Shah, Co-founder and CEO, NewsReach.
Startup Stairs is an accelerator focusing on promising startups, MSMEs and aspiring entrepreneurs. And a renowned jury selected 15 leading edge enterprises who were awarded seed funding ranging from INR 25 lakhs to 5 crores. 'Growth Acceleration Program with 4i' is covered by National Skill Development Corporation (NSDC) and supported by Startup India.
"We envision a startup ecosystem that incorporates Aadhaar-linked digital verifications to combat potential risk and build brand integrity. This innovative method will allow startups to reach out on a larger scale with greater trustworthiness in the global market," shared Preet Sandhuu, Director of Startup Stairs.
Previously, Newsreach has received funds through BharatPe C-founder Shashvat Nakrani, JITO Angel Network, Beyond Partners, Sharan Aggarwal, and Oasis.
