ScoopWhoop raises US $4 million from Kalaari Capital

The company plans to use the latest round of funding for aggressive expansion of its video production unit, ScoopWhoop Talkies.

ScoopWhoop, the internet media and news start-up has raised US $4 million from Kalaari Capital. The funding is expected to help the two-year-old company realise its ambition to be the market leader in the category.

The company plans to use the latest round of funding for the aggressive expansion of its video production unit, ScoopWhoop Talkies. Moreover, it plans to invest in hiring editorial resources across beats for different publications. It also aims to set up robust sales and native content team to service its 100+ brand partners.

Sattvik Mishra, CEO, ScoopWhoop, says, "ScoopWhoop aims to gratify the needs of the millennial generation which relishes entertainment as well as hard-core news. We were the first ones to recognise this paradigm shift and created content customised for this target audience. In the last 12 months, we have grown almost 300 per cent. We've managed to put a great team together, across portals that drive almost 20 million unique visitors monthly. And, with this funding we look forward to being the No.1 digital media company in India by 2017."

Speaking on the investment, Bala Srinivasa, partner, Kalaari Capital, says, "ScoopWhoop is well on its way to become a highly influential new media company for India's 200 million + internet and social media-savvy youth population. By combining strong editorial capabilities with technology and smart analytics, ScoopWhoop is in a position to leverage the massive shift from traditional media to digital advertising. We are excited to partner with Sattvik and the entire ScoopWhoop team in this journey."

ScoopWhoop, a news and social entertainment portal, is the flagship brand which caters to the millennial generation, creating multi-format content for the connected audience. Gazbapost.com, India's first Hindi social entertainment content portal and Vagabomb.com, a women-centric content portal are a part of the flagship brand.

Kalaari Capital is an early-stage, technology-focussed venture capital firm with $650 million in assets under management.