Former Indian Express editor Shekhar Gupta’s media venture Printline Media has raised an undisclosed sum from investors including Ratan Tata, Uday Kotak and Nandan Nilekani. The money will be used to launch news site The Print, a multimedia digital news platform, over the next three months.
According to news reports, the anchor investors—the list also has Biocon Ltd founder Kiran Mazumdar Shaw, Bangalore-based tech-entrepreneur Rajiv C. Mody and Paytm founder Vijay Shekhar Sharma—will hold close to 20% equity in Printline Media. The remaining stake will be held by founder Gupta. Printline has an office in New Delhi.
A source close to Gupta, on the condition of anonymity, confirmed the news to exchange4media.com.