News Post

Way2News raises $14 Mn in Series B led by WestBridge

Entrackr · 2d

Hyperlocal news platform Way2News has raised $14 million in its Series B round led by WestBridge Capital, with participation from venture capitalist Sashi Reddi. With the fresh proceeds, Way2News will focus on scaling operations, enhancing technology, and expanding its presence in the South Indian market, the company said in a press release. In June 2022, the Bengaluru-based firm scooped up $16.75 million in Series A round. Founded in 2015, Way2News claims to have 6.5 million daily active users, 13 million monthly active users, and more than 50 million downloads across app stores. Hyderabad-based Way2News offers short, relevant, and reliable news stories extending beyond districts to villages and mandals in their local language such as Telugu, Tamil, Kannada, Malayalam, Marathi, Bengali, and Gujarati from trusted local sources. According to startup data intelligence platform TheKredible, Way2News increased its operating revenue by 6% to Rs 29 Cr in FY23 from Rs 27.35 Cr in FY22. Way2News had a loss of Rs 15.14 Cr in FY23 whereas it made a profit of Rs 4.78 Cr in FY22. In the news aggregation space, Way2News faces competition from InShorts, Dailyhunt, Inshorts’ Public app and Feedly.