Mumbai-put together substance distributing stage Pencil with respect to Monday said it has brought $1 million up in a pre-Series A round drove by US-based investment store SOSV, with cooperation from Inflection Point Ventures (IPV) and Artesian.

Existing financial backers Mumbai Angels and SucSEED additionally partook in the round. The startup will go through the assets to scale its tech group as it is as of now chipping away at dispatching a peruser application.

Talking about the new venture, Swarup Nanda, Founder and CEO, Pencil, said,

“We are set for make distributing a straightforward and really computerized biological system for writers, perusers, and distributers. We expect to democratize innovativeness by enabling essayists to become writers, improve their substance, assemble crowds, and adapt their imaginative interests.”

Dispatched in September 2020 by Swarup Nanda, Pencil empowers essayists to distribute their books for nothing on its foundation and disseminates them all around the world in more than 60 dialects. The startup, that expects to break the obstructions among perusers and scholars by making a social narrating stage, cases to have pulled in huge number of journalists in a range of half a month.

William Bao Bean, General Partner, SOSV, and Managing Director of MOX, added, “We’re in a development in unique substance: information will shape how individuals read, learn, and distribute in the following decade. The distributing business is ready for disturbance, and we can’t think about a more grounded group to work with.”

“While advanced change is moving through each area from land to assembling to transportation, it has some way or another evaded the distributing space. Pencil is democratizing the distributing business and advancing enthusiasm economy, where it will make it simpler and advantageous for individuals to distribute content, and for that substance to discover a peruser base as well as OTT stages who might be keen on changing over those accounts into films and web arrangement.

“Utilization of investigation, dynamic altering, advanced dissemination, and above all, open admittance to new business sectors for maturing scholars that permits them to interface with their perusers and get constant input are the elements that assisted our choice with putting resources into Pencil,” said Ankur Mittal, Co-organizer, Inflection Point Ventures.