Lifestyle and entertainment platform MissMalini has raised Rs 10.4 crore from Orios Venture Partners and New Enterprise Associates in its pre-series A round.
The fresh fund for the content platform comes after a gap of six years. It had secured an angel fund from several investors including Google India MD Rajan Anandan in 2012. Although, a Forbes report mentioned that it also raised a private funding in 2017.
The pre-Series A funds will be used to expand its content, technology, analytics and sales operations. Besides, it also aims to build full-service integrated video production units and slated to launch vernacular content on its platform.
According to MissMalini’s CEO Nowshad Rizwanullah, the company is in talks with firms for our next TV show in a direct-to-consumer or over-the-top (OTT) format, reports ET.
Launched in 2008 by Malini Agarwal, MissMalini creates a millennial-focused lifestyle and entertainment content for India’s Internet Generation across blogs, mobile social media (Facebook, Twitter, and Instagram), and television platforms.
The company became profitable in 2014. Its revenue has grown by a CAGR of more than 100 per cent over 5 years as it built out new revenue streams, such as TV shows and awards.
For current fiscal, MissMalini’s revenue claims to have been growning by 2-3 times and it expects significant growth in user base as well.
The firm has over 10 million unique monthly followers across platforms, with some channels giving it an outreach of almost 40 million a month.
In women lifestyle and entertainment-focused content space, MissMalini competes with the likes of POPxo and Femina.
Led by Priyanka Gill, Popxo had recently forayed into e-commerce. Called as POPxo Shop, it showcase products such notebook, phone covers, laptop sleeves, coffee mugs and cushion covers, among others.