As it plans to expand into new narrative formats and regions outside of India, digital storytelling platform Pratilipi has raised $20 million in a Series E fundraising round headed by Jungle Ventures. There are $12 million in primary investment and $8 million in secondary investment in this funding round, which is a combination of primary and secondary.

Ranjeet Pratap Singh, the Co-Founder and CEO of Pratilipi, is one of two individual investors who have contributed to the principal investment; no institutions have done so. According to Singh, the secondary transaction saw investor Shunwei Capital selling all of its shares for a complete departure and investor Qiming Venture Partners selling 75–80% of its shares for a partial exit.

When present shareholders sell their shares to new investors, it is referred to as a secondary transaction. The selling shareholders keep the proceeds and the company does not get any money.

Singh claims that following this round, Pratilipi's post-money valuation is $100 million, up from $265 million in the previous round. The South Korean gaming behemoth Krafton Inc. supported Pratilipi's most recent fundraising campaign, which raised $48 million in 2021.

According to Singh, Pratilipi has experienced organic development in the last 12 months, and its primary online literary business is now profitable and cash flow positive.

In addition to online reading, Pratilipi provides audio content through Pratilipi FM and Pratilipi Comics. With the purchases of Westland Books and IVM Podcasts, Pratilipi has also entered the publishing and audio industries.

“Two years back, the market was great, valuations were high. Today, the market is bad, valuations are low. Tomorrow again, markets, emotions will be high, markets will go up,” Singh stated, adding “I worry about business fundamentals, valuations, and share prices come and go.”