Matrubharti- Ahmedabad based eBook publisher raises seed funding of Rs. 20 lakh from Viridian Capital. Matrubharti. Startup offers a platform to new and aspiring writers to publish their work in regional languages. Publishing as an E-book by directly taking content from the authors.
Funds will be used to upgrade the tech and expansion of team. Initially it was incubated at the Espark-Viridian Accelerator Centre at GIFT City (Gujarat International Finance Tec-City). Currently having 1800+ authors and 4350 already published eBooks under it’s name.
Mahendra Sharma, co-founder, Matrubharti said, “Investment by
Viridian Capital in our firm is a testimony that we have a business model which is likely to grow at a healthy rate. Matrubharti offers a digital platform to new and aspiring writers, which is our unique selling proposition among digital publishers.”
India’s book market is currently the sixth largest in the world at Rs 26,100 crore, reported by Nielsen in a survey. It is estimated that it is likely to reach Rs. 73,900 crore by 2020. The reports added that 70%+ of the publishers in India have digitalised their content to produce eBook versions to target maximum audience.
Startup publishes 450+ eBooks per month with 7.5 lakhs downloads till now. Six languages have been used to publish so far, planning to publish eBooks in 21 languages.