Pencil raises $1 million Pre-Series A Funding
Mumbai: Pencil, a publishing platform that focuses on turning books into dynamic content through analytics and editing, has raised $1 million (around Rs 7.3 crore) in a pre-Series A funding round.
The round in Mumbai-based Pencil has been led by the United States-based venture firm SOSV, it said in a statement. Other participants include Inflection Point Ventures (IPV), Artesian, and existing backers Mumbai Angels and SucSEED.
Pencil, operated by One Point Six Technologies Pvt Ltd, was set up by Swarup Nanda. The company says it helps authors and writers self-publish and distribute content in more than 60 languages.
It is also building a reader-focused application. The firm, which also helps creators secure deals with other publishers and content providers, will use the funds it has raised for enhancing tech infrastructure as well as building out its team.
