Webtoon App Toonsutra Secures $3.2Mn In Seed Funding

Sony Innovation Fund-backed Toonsutra, India’s leading comic app, has raised $3.2 million in a seed funding round led by German media company Holtzbrinck Publishing Group.

Along with Holtzbrinck, the round included venture funds GMJP, T-Accelerate, and Google. Graphic India, a comic and animation creator, also took part in the round.

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“With over two million downloads and growing, Toonsutra has shown that Indian audiences are ready to embrace a new era of digital fandom and storytelling. As a lifelong comic book fan and creator, I’m thrilled to bring the best comics and webtoons from around the world into India’s local languages for the very first time,” said Toonsutra Co-Founder & Chairman, Sharad Devarajan.

“This is an incredible opportunity to introduce millions across the country to the transformative power of this medium while inspiring a new generation of Indian comic and webtoon creators to share their stories and redefine global pop culture,” he added.

“Toonsutra represents an exciting confluence of digital innovation and cultural resonance in one of the world's most dynamic markets. Their impressive growth and leadership position in India's mobile comic space demonstrates the team's deep understanding of both content and technology,” said Filmon Zerai, COO of Holtzbrinck Publishing Group.

Toonsutra raised $1.1 million in pre-seed funding in 2022. His previous investors include Sony Innovation Fund, Maiora Capital, and startup veterans like Rotten Tomatoes co-founder Patrick Lee and former CEO of Americas at CJENM, Steve Chung.

About Toonsutra

Toonsutra, founded in 2023 by Sharad Devarajan and Vishal Anand, focuses on creating entertainment experiences across comics, animation, and digital media. It offers content in Hindi, Tamil, and Telugu, catering to a wide range of Indian audiences. Toonsutra has partnered with global publishers to bring over 3,100 titles and 500,000 episodes to its platform.

The company's mission is to build a community around fandom and pop culture, aiming to reach India's mobile youth market of over 700 million. The webtoon market is expected to grow to $130 billion, making it a major segment in media and content.

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