webtoon start-up Toonsutra with an emphasis on India, backed by CA Media's Graphic India has raised an undisclosed amount of funding from the Sony Innovation Fund (SIF), a top company official told. "SIF has joined Toonsutra as one of the investors", said Sharad Devarajan, CEO of Graphic India, while refusing to share details citing confidentiality.

"The investment further validates the timing and opportunity that Toonsutra represents to have such a prestigious group participate", he added. Graphic India is the country's leading original character entertainment company. Along with Toonsutra, SIF has supported startups like Lokal, GetVantage, Impact Guru, Medfin, MedPay, Slice, WeRize, and Tricog. SIF is entirely funded by Sony and invests in early-stage businesses.

"We are excited about the potential of localised digital comics and webtoons as a powerful and dynamic storytelling medium in India", said Gen Tsuchikawa, CEO and chief investment officer of Sony Ventures Corporation. "We are looking forward to supporting the Toonsutra team, new creators, and emerging entertainment categories in this high-growth market". Last year, Toonsutra raised $2 million in a pre-seed round from high-profile investors including Lightspeed Venture's Jeremy Liew, Twitch co-founder Kevin Lin and 9GAG cofounder Ray Chan.