Gurugram based NewsBytes has now secured $1.5 million in the funding round of Series A, led by the North Base Media, a global venture capital firm specializing in media.
The co-founder of the company revealed that it would use the funding in augmenting its technology.
“With this capital, we are better positioned to expand our fast-growing audience and develop new technologies that will allow us to serve new clients,” he said.
Founder also revealed that added the participation by NBM, which has extensive media and media-technology experience globally, together with new investor JITO Angels and the company’s existing investor, Powerhouse Ventures, which gives NewsBytes stability to a crucial time.
The five-year-old firm has previously raised $1 million in the pre-series A funding round led by the Mueller Medien’s investment arm MM Inno GmbH.