NewsDog raises $ 50 mn in funding led by Tencent

NEW DELHI, May 22:  News and entertainment content aggregator NewsDog has raised USD 50 million (approx Rs 340 crore) in funding led by Chinese internet giant Tencent.
The Series C funding round also saw participation from DHVC, Legend Capital and Dotc United Group.
NewsDog said it will use the funding to solidify its position in the Indian digital content market.
“NewsDog plans to use the round proceeds to pursue its vision of empowering individuals and professional content creators to showcase their work and reach the digital mass public. The company is adopting blockchain technology to grow faster and make the content ecosystem transparent,” the company said in a statement.
Till now, there are more than 30,000 writers contributing contents regularly on NewsDog.
NewsDog was launched in early 2016 by Forrest Chen and and Yi Ma. (PTI)


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