WYN (What’s Your Narrative) Studio, a content startup focussed on video and audio concepts, has raised seed funding in a round led by the India Angel Fund.
Other participants in the round include Sanjeev Sinha, a partner at the Tokyo-based India Japan Partnership Fund; Pranay Anthwal, a media and entertainment industry executive; and Narendra Firodia, the founder of Sohamm Unicorp.
Gurugram-based WYN Studio was set up by Bijay Gautam and Souniya Khurana. It creates video content as well as podcasts for clients such as HP and radio jockey Pallavi Rao. It will use the capital it has raised to strengthen its team and create more content, it said in a statement.
“While we were cash positive from day one and extremely frugal with our spends, we have realised that this phase has been a boom for content especially audio,” Khurana said.
WYN Studio says it is also creating a pipeline of original digital content for platforms and that it is revenue positive.
Separately, India Angel Fund co-founder Rahul Narvekar said the firm was confident of its investment in WYN Studio because of the startup’s focus on revenue and cost minimisation.
“We are keen to bring in more startups from India like WYN Studios, into Japan and explore synergies with Japanese companies,” Sinha added.
The investment in WYN Studio underlines the growing investor focus on startups operating in the content creation, curation and promotion segments.
For example, in April, vernacular self-publishing firm Pratilipi raised Rs 70.68 crore in a Series C funding round led by Chinese conglomerate Tencent. Other participants included Omidyar Network, Bennett, Coleman & Co Ltd, Shunwei Capital and Nexus Venture Partners.
In February, content writing and services platform Pepper Content Pvt Ltd raised Rs 2.2 crore in seed funding. Investors included Titan Capital, as well as former Nasscom chairperson Saurabh Srivastava, Slideshare co-founder Amit Ranjan and news platform YourStory Media.
In January, artificial intelligence-driven content startup Instoried Research Labs Pvt Ltd raised funding from the United States-based venture capital firm SOSV and its Chinese arm Chinaccelerator.
