Digital storytelling startup Pratilipi raises $20 million; valuation slashed more than 60%

A year after struggling to mop up funds to meet its working capital requirements, digital storytelling platform Pratilipi has closed a $20 million round led by Jungle Ventures. However, the deal has been struck at a significantly lower post-funding valuation of $100 million, cofounder and CEO Ranjeet Pratap Singh told ET.

The Bengaluru-based startup had previously raised $48 million during the 2021 boom days of venture funding. PUBG maker Krafton had led the funding round at that time at a valuation of $265 million.

Of the total $20 million raised by…