Krafton Invests 51.5 Billion KRW in India's Largest Web Novel Platform 'Pratilipi'

[Asia Economy Reporter Buaeri] Krafton announced on the 14th that it has invested $45 million (approximately 51.5 billion KRW) in 'Pratilipi,' India's largest web novel platform.

Krafton led Pratilipi's total $48 million (approximately 55 billion KRW) 'Series D' investment round. In addition to Krafton, Omidyar Network and many startup founders also participated in the investment.

Pratilipi is India's largest web novel platform with 30 million monthly active users (MAU) and 370,000 authors. It offers services in 12 Indian languages and recently has been collaborating with related companies to provide various content such as books, animations, and TV series, in addition to web novels.

Ranjit Pratap Singh, CEO of Pratilipi, said, "We look forward to working with investors including Krafton at this stage of introducing our content and authors to more users worldwide."

Son Hyun-il, Head of Investment at Krafton, stated, "Through Pratilipi's platform, we have witnessed the growth of local intellectual property (IP) in India and believe in its potential to succeed globally. Since we already have a multilingual platform in the web novel sector, we see it as a company that will grow significantly in the future market."

Krafton continues bold investments in the Indian market. In November last year, it established an Indian branch, and in March, it invested 22.5 billion KRW in Nodwin Gaming, India's leading e-sports company. In June, Krafton, along with various investors, made a $9 million (approximately 10.1 billion KRW) seed round investment in Loco, India's leading game streaming platform. Including the recent investment in Pratilipi, Krafton's total investment in Indian IT companies this year amounts to $70 million (approximately 80.2 billion KRW).