News Aggregator NewsDistill raises $100k in seed funding
7 years ago Sravya Gowrisetty
Smart investors definitely believe the fact that, ‘The key to stay rich is to stay invested.†When revolution takes over everyday life, technology imparts its way to enter it.
Everything that is happening across the globe is up on our smart phones. A lot of applications that provide us with news from across have been launched. A lot of applications have been launched on this regard. NewsDistill has stood out and made its way to reside in every smart phone possible.
NewsDistill was launched in 2015 by Narasimha Reddy to change the overview of applications that deliver news. This application aggregates news from various origins such as newspapers, television channels, social media, custom feeds, RSS etc., in 8 major Indian languages and presents them in a single platform. The user gets a chance to pick his coice and follow them every day. “There is a huge demand for personalised news feed on mobile apps. We are going to enhance the product offering. The proceeds from the fund-raising would be used to develop the product and to acquire good talent,†Narasimha Reddy, Founder, NewsDistill, said.
Many top notch companies have decided to thrust out to successful start ups in the city. Having so many prosperous ones in the city, investors are going head over heels as to where to reach. With its spreadout in the city and the country as well, investors have chosen to be smart by funding this city-based news aggregator application, NewsDistill. They have raised a seed funding of Rs. 67 lakh from a some triumphant organizations. These investors include Narasimhan Ganesh, Senior Director at Box.com, Ramana Thumu, Vice-President of eBay, and Sudhir Mallem of Uber. They are also expecting to raise another $100,000 in a couple of months.
“These funds will be used for the expansion and product development to meet the demand. The current round of investment will be used for product development and talent acquisition.†Said Narasimha Reddy.
Kudos to the entire team of NewsDistill for such a huge achievement. Start-Up Hyderabad congratulates for achieving the investment and wishes to see great victory in future.
