Quintype Technologies, a startup that provides digital media publishers a secure and robust platform to create, curate, distribute and monetise content, has raised Rs 25 crore in Series A from IIFL AMC.
Quintype empowers digital publishers with state-of-the-art content management and subscription management systems, that was previously available only to the largest media organisations with the resources to invest in technology.
Elaborating on the fundraise, Quintype CEO Chirdeep Shetty said media companies and content creators across the world are moving towards a digital-first strategy and the current pandemic situation has only accelerated that shift.
Products for publishers
“The team at Quintype has been focussed on creating some of the best products for publishers and this will help us provide better support and expand our offerings to publishers globally. We do all the heavy lifting on the technology-end so that publishers can focus on creating the best content for their audience,” said Quintype CEO Chirdeep Shetty.
Digital publishing has seen a fundamental shift in the last few years with most audiences seeking on-demand content with the proliferation of mobiles. We are happy to lead this change by creating and expanding this digital ecosystem and this investment by IIFL AMC is step in that direction.
The company intends to use the funds to continue to expand its operations and reach. Leading publishers such as Bloomberg Quint, Prabhat Khabar, Bar and Bench, The Quint and Swarajya use Quintype to publish and distribute all their content.
Speaking about the investment, IIFL AMC Senior Managing Partner Prashasta Seth said Quintype, with its suite of products, is set to accelerate the growth in digital content and publishing space.
“It enables more content creators to go digital easily and gives them the freedom to distribute, scale up and monetize their content using an intuitive product with hundreds of built-in features. We are happy to partner with a professionally-managed Quintype team backed by pedigree promoters who together make the best combination of both worlds – technology and media – as they embark on a journey to transform the publishing space,” said IIFL AMC Senior Managing Partner, Prashasta Seth.
Speaking about the investment, media mogul Raghav Bahl and Ritu Kapur who started the company said when they started its journey in digital journalism for mobile consumption in 2014, they had met some of the pioneers in this field in America.
“They emphasised the importance of agility through tech in mobile journalism with the unique power of a state of the art digital publishing platform. This was reinforced in our various conversations at international publishing forums. So we invested founding capital with a group of exceptional technology professionals who were passionate about breaking new ground in digital publishing tech,” said Raghav Bahl and Ritu Kapur.
Raghav Bahl and Ritu Kapur said Quintype was born as a stand-alone, independent, arms’ length operation and its early successes are manifest in the 70 publishers from across the globe on it now.
“We are delighted that Quintype, with funding support from pedigree investors, is now ready to move on to big things in its next stage. We wish it the very best, and vow to continue our support until it achieves a truly global scale,” said Raghav Bahl and Ritu Kapur.
IIFL Seed Ventures
The investment is being done by IIFL AMC which is part of IIFL Wealth Management Ltd, which got demerged from IIFL Group. IIFL AMC launched the IIFL Seed Ventures Fund – Series 2, a close-ended SEBI-registered Category II Alternative Investment Fund, in July 2019.
The fund seeks to back early stage companies that are using technology to disrupt a part of the existing way of doing business and in the process getting a clear lead over the existing players. It invests in emerging sectors like healthcare, technology, financial services and consumer. This is the third investment from this fund; the previous two investments were in consumer space.
From their previous fund, IIFL Seed Ventures Fund 1 they have seen up rounds in multiple companies like Poncho Hospitality (Box 8), Kogta Finance and also realised exits from companies like Shopsense Technologies (Fynd), Uniphore and Nowfloats to name a few.