Tech News Startup FactorDaily Raises Rs 5.7 Cr In Fresh Funding

Freshworks founder Girish Mathrubootham and existing Paytm founder Vijay Shekhar Sharma have invested Rs 5.7 crore ($875,000) in a fresh funding round in Bengaluru-based digital media platform FactorDaily has secured, filings with the Registrar of Companies show.

The company’s other existing investors venture capital firms Blume Ventures and Accel Partners also participated in the round. Entrepreneur Jayaprakash Vijayan came on board as a new investor, the filings state.

The company currently has raised Rs 76 lakh ($116.667) of the total funds committed to it, from Sharma and Mathrubootham.

According to the filing, operated by SourceCode Media Private Limited, FactorDaily allotted 1,714 Series A1 preference shares of Rs 10 each at a premium of Rs 4438.18 each, the filings state.

The development of TechCircle was confirmed by Pankaj Mishra, co-founder of FactorDaily.

FactorDaily was founded in 2016 by Mishra and Jayadevan PK. The platform last raised funds in 2016, when it secured $1 million in a seed funding round from Sharma, Blume, and Accel.

Sharma is also an investor in two other digital media startups, The Ken, The Print, and DealStreetAsia.