In the series B funding round led by Venture capitalist Sashi Reddi and WestBridge Capital, hyper local news provider Way2News has successfully raised $14 million.

According to a news release from the company, Way2News will use the new funds to concentrate on growing its operations, improving technology, and entering the South Indian market.

The Bengaluru-based company raised $16.75 million in a Series A Funding round in June 2022.

Way2News, which was established in 2015, states that it has over 50 million downloads across app stores, 6.5 million daily active users, and 13 million monthly active users.

Way2News, situated in Hyderabad, provides brief, pertinent, and dependable news articles in their native tongues—Telugu, Tamil, Kannada, Malayalam, Marathi, Bengali, and Gujarati—that go beyond districts to villages and mandals.

Way2News reportedly boosted its operational revenue by 6% to Rs.29 crore in FY23 from Rs.27.35 crore in FY22, according to startup data intelligence platform TheKredible.

Way2News had a profit of Rs.4.78 crore in FY22 but lost Rs.15.14 crore in FY23.

Way2News is up against competition in the news aggregation market from InShorts, Dailyhunt, Inshorts' Public app, and Feedly.

Expressing on the new funding round, Raju Vanapala, Founder and CEO of Way2News says, “We focus on building an inclusive, dynamic, and engaging news experience for every Indian. With this funding, we aim to scale our platform further, bringing more communities into the fold.”

Similarly, Rishit Desai, Partner at WestBrigde, “Their rapid growth in the Telugu and Tamil markets is a testament to their vision and the strength of their model. We are excited to support their expansion across South India. We look forward to continuing our support for their vision to become the go-to platform for news”.