Reliance invests Rs 5 Cr in video media startup NEWJ

After Reliance Industries has acquired the 87.6% stake in the Fynd, which is a Mumbai based startup that connects brick and mortar retailers with the online consumers and stores, for the 2.95 billion INR, according to the report of co-founder of Fynd. Reliance Industries is on a drive the complete eco-system which is related to the technology to  give several advantage to the consumers to the customers with the help of a 5G technology. Previously, it acquired the controlling stakes in EasyGov, Haptik, Fynd, Embibe, Reverie technology, and recently into the NEWJ.

Now to expand to the next generation technology into the video media Reliance Industries Limited has invested INR five crore in the newly emerging world of Journalism, which is an early-stage startup that curates and produces video content for the device users.

Video content market has a massive opportunity for the innovative storytelling in India and this 20 month old startup has grabbed this opportunity by curating and producing for the digital and social platform – YouTube, Facebook, Twitter, WhatsApp, and Instagram.

In the month of November 2018, Reliance invested around INR 1.03 crore for an undisclosed stake. NEWJ was founded by the Deeksha and Shalabh, children of the Umesh Upadhyay, the president, and director media at the RIL.

Also Read: VERI5DIGITAL RAISES $2 MN SERIES A FUNDING

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