In a recent seed funding, online news aggregator NewsDistill raised INR 67 Lakhs from a pool of investors which includes the likes of Sudhir Mallem, Ganesh Narsimhan and Ramana Thuman. The recent funding comes as a call to action for the online news aggregator which views expansion in two future quarters. The company aims at raising a whopping $1, 00, 000 in the next two months as part of its expansion drives.
Online News aggregators have in fashion and demand for over some time as they provide vivid news in different filters from different news sources. NewsDistill functions on similar lines of producing news for all genres and groups of people who do not find much time to scroll down Newspapers and hence can rely on one Application to get news from all over the source. The company follows a sort of algorithm which uses machine learning as well as analytics to provide the ‘News in a moment, at a glance’ features to its users.
The website and the application were launches in the year 2015 there by making one of the first online news aggregator. It was founded by Narsimha Reddy. The company aggregates the news from various Indian Newspapers, television channels, Custom Feeds, RSS Feeds as well as social media. It provides news in eight Indian Languages which are English, Hindi, Telugu, Malayalam, Kannada, Marathi and Tamil.
Iterating the importance of online news portals, founder and CEO explains it as
‘There is a huge demand for personalized news feed on mobile apps especially for those who wish to spend quality time reading similar news from various media channels through multiple languages and quick filters. NewsDistill is embarking upon expansion and product development to meet the demand. The current round of investment will be used towards product development and talent acquisition,”