Tuesday, 28 April 2020

NewsReach raises funding from Mumbai Angels Network



NewsReach raises funding from Mumbai Angels Network
Ahmedabad based start-up NewsReach raised an undisclosed amount in the recent round of funding carried out by Mumbai Angels (MA) Network. NewsReach is founded in 2018 by Darshan Shah
NewsReach encourages digitalize local newspaper publishers, reporters, stringers & PGCs, to aggregate their content on one platform & monetize their content not only through advertisements but also through innovative news marketplace, where such publishers & original content providers can sell/license/syndicate their content in an open market to big media houses, fellow publishers and/or to any content buyer. 
Founder Darshan Shah on the funding raised by MA, “We are highly impressed with the speed of working & professionalism shown by Mumbai Angels. We took part in the pitching on 10th April, investors showed interest & money was wired in our bank amount in less than 3 days post signing the agreement. Thank you, Mumbai Angels, for all the support in the difficult times of Covid-19.”
MA Investor Seshadri Nathan, "It gives me a great pleasure to be part of Mumbai Angels' innovative lifeline for start-ups during this time of uncertainty. "
Nandini Mansinghka, Co-promoter and CEO Mumbai Angels Network, commented, “NewsReach plans to revive the local news industry by digitizing it and creating visibility & marketability to publishers. We are happy to onboard NewsReach in our diversified portfolio & look forward to be part for their growth.”
About Mumbai Angels Network: 
Started in 2006, Mumbai Angels Network (MA Network) is India’s premier platform focused on new venture investing. The network is today 450+ members strong, across 9 chapters (Mumbai, Delhi, Bangalore, Kolkata, Hyderabad, Goa, Pune, Jaipur and Chennai). It has a 135+ strong portfolio with 30+ exits and has invested 150+ crores.

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