Hindi social networking platform ShabdaNagari raises bridge funding
Kanpur-based Trident Analytical Solutions Pvt. Ltd, which operates Hindi social networking platform ShabdaNagari.in, has raised an undisclosed amount in bridge funding from ah! Ventures, a top company executive told Techcircle.in.
The firm will use the funds for product development, marketing and promotional activities, said Amitesh Mishra, co-founder and CEO ShabdaNagari.
Investors who have participated in this the funding round include Yogesh Chaudhary, director of carpet manufacturing firm Jaipur Rugs Company Pvt. Ltd; Anirudh Damani, director of renewable energy-focused independent power producer Artha Energy Projects Pvt. Ltd; and Abhimanyu Singh, vice president - client Services of TaskUs, among others.
Founded in 2015 by Amitesh Mishra along with Nikhil Tiwari and Amaresh Chandra Misra, the firm operates a social media platform that caters to the Hindi speaking audience. Users can post articles, pictures, videos and questions using the tools provided on the website. The platform also has a mobile version on Android.
Amitesh Mishra is an IIT Bombay alumnus and had worked with Mu Sigma and Capital One, among others, before becoming an entrepreneur. Nikhil Tiwari, who holds a B Tech in information technology from Vishveshwarya Institute of Engineering and Technology, Ghaziabad, takes care of the portal's user interface. Amaresh Chandra Misra is a lawyer and looks after compliance and legal aspects.
"India as a market is unique due to its specific consumer needs. Products that aim to succeed need to be designed to cater to those specific needs and ShabdaNagari has done the same. The team's understanding of the Hindi speaking market makes it stand apart," said Harshad Lahoti, founder and CEO of ah! Ventures
ShabdaNagari has a team of about 15 employees and claims to have around two lakh unique visitors. It says 80% of the traffic on the website comes from India while 10% comes from the US, UAE and Canada.
In January, the firm had raised $200,000 (around Rs 1.35 crore) from Kanpur Angels and a bunch of unnamed investors.
Like this report? Sign up for our daily newsletter to get our top reports.