Elysium Labs Private Limited’s Digital News Platform news NewsBytes said it raised $1.5 million in its A round, led by North Base Media (NBM), a multinational technology venture capital company.
Sumedh Chaudhry, the NewsBytes co-founder, said the company would use fresh funds to increase technology. “With this money, we’re better placed to expand our growing market and create new innovations that can support new customers,” said Chaudhry.
North Base Media
Chaudhry said the presence of the global media and technology network NBM, along with new investor JITO Angels and Powerhouse Ventures, the company’s current investor, brings stability to NewsBytes at a crucial time.
Established by Romesh Khaddar, Shikha Chaudhry and Sumedh Chaudhry, NewsBytes from Gurugram claims it has created India’s first, and the only, AI-powered content engine, YANTRA. Notably, the engine can handle a wide range of categories, from consumer technology to financial markets.