The Week that Was: Indian Startup News Overview (12th May - 18th May)
- ReelSaga raised $2.1Million in seed funding led by Picus Capital
- 1-India Family Mart secured $12 Million in Series D funding
- Zepto reached a $5B valuation after a $100 Million secondary
- Kazam, an EV software platform, raised $3.6 Million in pre-Series A funding
- Dvara KGFS secured $14 Million from the Norwegian Investment Fund (Norfund)
The Indian startup ecosystem has set a new record by bagging another round of funding in a few sectors like Climate tech, Travel, Aviation Tech, Retail Apparel and Fashion, Chemical Manufacturing & Digital Entertainment marks another win for the startupreneurs by raising funds and updating the growth probability and standardizing the products and services. The week went by successfully witnessing funds in every stage of funding from Pre-Seed, Pre-series, Seed, Series C, & others.
Funding News: ReelSaga Raises $2.1 million in a Seed Funding Round
Startup: ReelSaga
Founder: Shubh Bansal, Shanu Vivek, and Ritesh Pandey
About us: ReelSaga is a mobile entertainment company pioneering a new wave of 'Indian Short Drama' designed specifically for the smartphone generation. With a focus on vertical, short-form storytelling, ReelSaga delivers binge-worthy dramas in bite-sized 1–2 minute episodes crafted to be fast, emotionally engaging, and perfect for quick consumption. Each series is optimized for full HD viewing, offering a cinematic experience right in the palm of your hand.
Founded Year: 2024
Office: Mumbai
Sector: Technology, Information and Media
Funding Round: Seed Funding
Investors: Picus Capital
Mobile entertainment company ReelSaga has secured $2.1 million in seed funding led by Picus Capital, with funding from ITI Growth Opportunities Fund, Nazara Technologies, 8i Ventures, Waveform Ventures, Warmup Ventures, Bombay54, Bharat Founders Fund, and a number of angel investors.
It will be invested in augmenting app development and increasing production of hyper-localised, high-quality short-form dramas for mobile viewers in India, Southeast Asia, and the Middle East.
"Vertical short dramas are a cultural revolution. More and more users are turning to short-form video for entertainment. It’s quick, emotionally resonant, and binge-worthy drama doesn’t need to be 40 minutes long to move you", said Shubh Bansal, Co-founder and CEO of ReelSaga.
Website: Reelsaga.in
