Hyderabad: City-based short news app, Way2News on Thursday raised funds worth Rs 130 crore from WestBridge Capital and Venbture capitalists Sashi Reddi.
The short news app, gained investment as part of its project termed, “A round from investors”; the investment in Way2News also marks the first investment by WestBridge Capital in the Indian media. The app now plans to expand its presence in the states of Tamil Nadu, Kerala and Karnataka.
The media company will begin hiring for its various departments including, editorial, sales, marketing, in order to amplify its AI-based technology to minimise human intervention in delivering news.
“Way2News is enabling users to find news from small towns and villages while ensuring depth of coverage. Our mobile-first, crowd-sourced news platform, coupled with AI-based quality checks, is sustainable” Way2News Founder and CEO Raju Vanapala, was quoted as saying by Telangana Today.
Founded in 2016, the app provide a platform for stringer to write news articles, and provides news updates. It currently caters to audience from Telangana and Andhra Pradesh. There are approximately 30,000 contributors to the news app from 23 districts across the two states.
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