India’s VerSe Innovation raises over $450 million to expand Dailyhunt and Josh apps globally – TechCrunch

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VerSe Innovation, the father or mother agency of in style information aggregator Dailyhunt and quick video app Josh, stated on Thursday it has raised over $450 million in a brand new financing spherical, simply 5 months after securing $200 million, because the Indian startup seems to develop its choices to worldwide markets.

Siguler Guff, Baillie Gifford, associates of Carlyle Asia Companions Development II and others financed VerSe Innovation’s Collection I spherical, whereas current buyers Sofina Group, Qatar Funding Authority and BCap participated.

VerSe Innovation stated in a press release that its valuation has greater than doubled previously 5 months with out disclosing a exact determine. The startup was valued at over $1 billion in its Collection H financing spherical.

The Google and Microsoft-backed startup claimed that Josh, which has amassed over 115 million month-to-month lively customers, 56 million of whom use the app every day. Dailyhunt, the startup stated, has amassed over 300 million month-to-month lively customers.

Josh competes with scores of quick video apps together with Moj and MX TakaTak. All these apps mushroomed after India banned TikTok over cybersecurity considerations in mid-2020 to money in on the chance. ByteDance’s app recognized India as its greatest worldwide market, the place it had courted over 200 month-to-month lively customers.

Moj, which claims to have over 100 million customers, is operated by Tiger International-backed ShareChat that was valued at $2.88 billion in a financing spherical it unveiled final month. MX TakaTak’s father or mother agency MX Participant can also be at present participating with buyers to lift a spherical that will worth the startup at over $1 billion, in keeping with three folks conscious of the event.

VerSe Innovation is betting on constructing a household of apps that serves customers in scores of native languages. Dailyhunt, as an example, affords its content material in 14 languages from over 100,000 content material companions and creators. And it plans to copy the identical technique because it seems to develop in worldwide markets, VerSe Innovation stated.

It is a creating story. Extra to comply with…

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