Hyperlocal news startup Way2News on Tuesday announced its Series B funding round of $14 million led by WestBridge Capital with participation from prominent VC investor Sashi Reddi, both existing investors in the company. Providing short-format news, Way2News said it would deploy the latest capital infusion, which comes two years after its Series A round, towards increasing its presence in South India. The startup primarily competes with InShorts and Dailyhunt in India.
Speaking on the new round, Raju Vanapala, Founder and CEO of Way2News said it is a step towards expanding the footprint into every household in South India, ensuring that all citizens can access timely and relevant news in their language. “We focus on building an inclusive, dynamic, and engaging news experience for every Indian. With this funding, we aim to scale our platform further, bringing more communities into the fold.”
Founded in 2015 by Raju Vanapala, Way2News has over 50 million downloads providing regional news, particularly in the Telugu and Tamil markets with deep penetration and strong user engagement across Andhra Pradesh, Telangana, and Tamil Nadu, according to the company.
“Their rapid growth in the Telugu and Tamil markets is a testament to their vision and the strength of their model. We are excited to support their expansion across South India. We look forward to continuing our support for their vision to become the go-to platform for news,” said Rishit Desai, Partner at WestBrigde.
Way2News had last raised $16.75 million in 2022 from WestBridge Capital and Sashi Reddy.
India’s short-form content market is rapidly growing, largely driven by the popularity of short-form video (SFV) platforms like YouTube Shorts, Instagram Reels, etc. By 2025, India is reportedly expected to have a user base of 600-650 million people consuming short-form videos, with users spending an average of 55 to 60 minutes per day on such content.
The broader digital media market in India is expected to reach $10.07 billion in 2024, with short-form content playing a key role in this growth, as per India Brand Equity Foundation.