The Bengaluru-based company, which provides a platform to digital media publishers to create, curate, distribute and monetise content, intends to use the funds to further expand its operations and reach.

“Digital publishing has seen a fundamental shift in the last few years with most audiences seeking on-demand content with the proliferation of mobiles. We are happy to lead this change by creating and expanding this digital ecosystem and this investment by IIFL AMC is a step in that direction,” Chirdeep Shetty, CEO of Quintype, said.

He added that media companies and content creators are moving towards a “digital-first” strategy and that the pandemic has accelerated the shift.

Among clients the company counts publishers such as Bloomberg Quint, Prabhat Khabar, Bar and Bench, The Quint and Swarajya which use its platform to publish and distribute content.

“Quintype, with its suite of products, is set to accelerate the growth in digital content and publishing space. It enables more content creators to go digital easily and gives them the freedom to distribute, scale up and monetise their content using an intuitive product with hundreds of built-in features,” Prashasta Seth, Senior Managing Partner of IIFL AMC, said.

IIFL AMC launched the IIFL Seed Ventures Fund – Series 2, a close-ended SEBI-registered Category II Alternative Investment Fund, in July 2019. The fund backs early-stage startups building disruptive technology products and services. This is the third investment from the fund; the previous two investments were in the consumer sector. The previous fund, IIFL Seed Ventures Fund 1 saw exits from companies like Shopsense Technologies (Fynd), Uniphore and Nowfloats among others.

Media entrepreneurs Raghav Bahl and Ritu Kapur, who had invested founding capital in the company, said: “We are delighted that Quintype, with funding support from pedigree investors, is now ready to move on to big things in its next stage.”