London news startup Oximity bags seed money from angel investors
User-generated news startup Oximity has received an undisclosed amount in its seed funding round. Ronnie Screwvala and K Ganesh are among the angel investors who backed this round, according to Times of India (TOI).
Ganesh said of the startup: "We see this as a platform to take news to niche audiences wherever they are globally. By facilitating automatic as well as manual translation, Oximity is removing language as a barrier to the flow of news information across borders."
Co-founded by Sanjay Goel and Christian Hapke, Oximity provides its readers with user-generated news available in 180 languages. It allows users to freely write stories for their own benefit or for organizations or corporations. The site also monetizes the content and earns money through its freemium packages, the report detailed.
Launched six months ago, the website now has a network comprised of more than 2,500 writers from 200 different countries. With the help of these writers, Oximity is able to publish 700 news stories every day. The startup currently has offices in Germany, UK, US, Palestine, Moscow, and China, TOI reported.