Ebook publisher Matrubharti has raised a seed round of funding of about $30K (INR 20 Lakh) from Viridian Capital.
Matrubharti, founded by Nilesh Shah and Mahendra Sharma, is a self-publishing platform and an app serving eBooks in regional languages. It offers a publishing platform to new and aspiring writers in regional languages by taking content directly from authors and publishing it as an eBook.
Currently, it has published in six languages so far and plans to publish eBooks in 21 languages. The startup will use the newly raised seed funding for investment in technology and expanding the team. Matrubharti publishes over 450 eBooks every month and claims to have 7.5 lakhs of eBooks downloaded so far.
Mahendra Sharma, co-founder, Matrubharti said “Our growth rate is 20% month on month and we expect a similar growth over the next one year, as we believe that penetration of smart phones would increase the sales of eBooks going forward.”
Matrubharti has a premium subscription model through which readers can download any number of eBooks during a particular period, which reduces the cost of purchasing an eBook for readers.
Matrubharti was incubated at the Espark-Viridian Accelerator Centre at GIFT City (Gujarat International Finance Tec-City), and claims to have more than 1,800 authors registered and have published 4,350 eBooks
, so far.
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, Viridian Capital
, Nilesh Shah
, Mahendra Sharma
, GIFT City