The new round provides additional capital of Rs 3.6 crore to supplement internal accruals to finance the next phase of rapid expansion and growth for the omni-channel platform, which achieved profitability in FY 2020-2021.
The current round was oversubscribed by existing investors, including Venture Finance and Development Corporation (Hari Kiran Vadlamani), Meridian Investments (Mohandas Pai), and was led by Yuz Bharat Holdings, an affiliate of Yuz Ventures (which is owned by Siddhartha Yoga interests) which has now become the largest shareholder group of the sponsor company with 38 per cent ownership.
"The company plans to use the new investment to significantly expand its editorial desk and add journalists and staff writers in key gateway cities across India. A portion of the funds will also be used to upgrade our technology stack. This will include revamped apps, web properties and implementation of a modern customer data platform," said Amarnath Govindarajan, the company's chief executive officer and publisher."These strategic investments will focus on growing the publication's coverage, direct reporting and editorial presence, and broadening and deepening our subscriber base," he said.
Swarajya was originally founded in 1956 as a weekly under the patronage of the first Bharat Ratna Dr. C. Rajagopalachari, a freedom fighter and the first head of state of India of Indian origin (as Governor-General from 1948 to 1950). Went. The magazine ceased operations during or around the Emergency (1977–1980).
In early 2014, a group of entrepreneurs acquired the brand and archives and relaunched the magazine. Swarajya continues to grow and now reaches a target audience of 1 million unique visitors per month.It was one of the early digital media platforms of the new age emphasizing the 'reader-page' model, with over 20,000 subscribers.
Siddhartha Yoga said, “We first supported Swarajya in 2014 as a supporter of an independent, economically conservative but liberal voice in the Indian media, when it was not fashionable to do so."
The current round was oversubscribed by existing investors, including Venture Finance and Development Corporation (Hari Kiran Vadlamani), Meridian Investments (Mohandas Pai), and was led by Yuz Bharat Holdings, an affiliate of Yuz Ventures (which is owned by Siddhartha Yoga interests) which has now become the largest shareholder group of the sponsor company with 38 per cent ownership.
"The company plans to use the new investment to significantly expand its editorial desk and add journalists and staff writers in key gateway cities across India. A portion of the funds will also be used to upgrade our technology stack. This will include revamped apps, web properties and implementation of a modern customer data platform," said Amarnath Govindarajan, the company's chief executive officer and publisher."These strategic investments will focus on growing the publication's coverage, direct reporting and editorial presence, and broadening and deepening our subscriber base," he said.
Swarajya was originally founded in 1956 as a weekly under the patronage of the first Bharat Ratna Dr. C. Rajagopalachari, a freedom fighter and the first head of state of India of Indian origin (as Governor-General from 1948 to 1950). Went. The magazine ceased operations during or around the Emergency (1977–1980).
In early 2014, a group of entrepreneurs acquired the brand and archives and relaunched the magazine. Swarajya continues to grow and now reaches a target audience of 1 million unique visitors per month.It was one of the early digital media platforms of the new age emphasizing the 'reader-page' model, with over 20,000 subscribers.
Siddhartha Yoga said, “We first supported Swarajya in 2014 as a supporter of an independent, economically conservative but liberal voice in the Indian media, when it was not fashionable to do so."
