Published On: Mon, Feb 8th, 2021

Google-backed Dailyhunt and Josh’s primogenitor organisation raises over $100 million

VerSe Innovation, a primogenitor organisation of renouned news and party app Dailyhunt and brief video app Josh, pronounced on Monday it has lifted over $100 million as partial of a Series H financing turn from Qatar Investment Authority and Glade Brook Capital Partners.

The proclamation follows another $100 million+ investment a startup cumulative from Google, AlphaWave, and Microsoft in Dec final year. That tranche of investment, also partial of Series H, had incited Dailyhunt into a unicorn (giving it a gratefulness of $1 billion or higher). The startup has to-date lifted about $430 million.

Dailyhunt, co-run by Virendra Gupta and former Facebook India conduct Umang Bedi, is a renouned news and party app that serves some-more than 285 million users any day in 14 internal languages in India. Its strech in India, a world’s second largest internet market, would explain because Twitter final month partnered with a Indian organisation to move Moments to Dailyhunt.

VerSe Innovation stretched to brief form videos final year, with Josh, after New Delhi criminialized TikTok and combined a fanciful blank for snacking calm in a country. Scores of vast giants and startups — including MX Player and ShareChat — have attempted to try their palm during brief form videos in a new quarters.

Facebook launched Instagram Reels in India final year, and YouTube launched Shorts, that is already garnering over 3.5 billion daily views in India, it pronounced final month. (With over 450 million users in India, YouTube is shutting in on WhatsApp’s marketplace lead in India.)

Josh appears to have emerged as one of a heading players: The startup says Josh has amassed over 85 million monthly active users — 40 million of whom check a app any day — and a app sees some-more than 1.5 billion video plays everyday.

Now a startup says it is exploring enlargement into some-more categories and like with Dailyhunt and Josh, support users in smaller cities and towns and eventually replicate this indication in general markets.

India’s internet economy is approaching to be value $639 billion by 2030, analysts during Citi wrote in a news to clients late final month. The coronavirus pestilence accelerated digital adoption and users’ ardour to covenant online, a news from analysts during UBS pronounced final week.

India leads with Tier 2 cities allied to Tier 1. Biggest locate adult event in Philippines and Vietnam (UBS)

“Josh represents a connection of India’s tip 200+ best creators, a 10 biggest song labels, 15+ million UGC creators, best in category calm origination tools, a hottest party formats, and challenging user demographics. Josh has been consistently rated as a heading Indian short-video app in India on a Play store,” a startup pronounced in a statement.

The startup pronounced it will muster a uninformed collateral to enlarge the internal languages calm offering, and enhance the creators ecosystem and AI and ML tech stacks.

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