One point six technologies raises $1mn in Pre-Series A round

 

One point six technologies raises $1mn in Pre-Series A round

Mumbai Angels (MA) Network portfolio company One Point Six Technologies has raised $1mn in Pre-Series A round from US Based SOSV, Australian fund Artesian and IPV along with some existing investors. One Point Six Technologies, formerly known as Leadstart, has an integrated platform that allows authors to self-publish globally in multiple languages. The Company, founded in 2010 by Swarup Nanda, had recently launched the app Pencil - a reading and writing platform for multiple formats of content from shorts to books that enables writers to create multiple types of content in 60 languages, continuously enhancing their work powered by meaningful reading insights, as they engage with the readers and monetise their content. The company’s portfolio covers a wide range of genres: Fiction, Non-fiction, Children, Business, Management, Finance, World Affairs, Politics, History, Self-Help & Empowerment, Health & Fitness, Spirituality & Religion, Philosophy, Cookery, Reference, Biography, Travel, Poetry, Activities, Hobbies, Crafts & Sports.

"In the creator economy ecosystem, while a lot of solutions are being built for content creators in the audio-visual space, little is being built for writers and authors to be able to monetize their content. Our effort at Pencil is to help writers to become authors, improve their content, build audiences and monetize their creative pursuits in various ways.”, Swarup Nanda, founder, and chief executive officer, Pencil commented..

Vijay Hede, MA Investor said “I was drawn to Leadstart Publishing Pvt. Ltd. for their unique innovation of launching the world's first publishing platform to empower each person to express their creativity by writing and distributing a book in e-book and paperback format.  The immense size of this opportunity has drawn me to invest in this start-up added of course is the drive, the focus, the team at Leadstart Publishing Pvt. Ltd. (AKA) One Point Six Technologies Pvt. Ltd.”

Nandini Mansinghka, Co-Promoter and CEO, Mumbai Angels Network commented “Their tech-driven approach in integrating publishers, platforms, and communities is a key differentiator; now with this new innovation - Pencil, it will help content writers to reach wider audience as it will help them to transform content into multiple languages and we see tremendous growth in this segment both in India and internationally".