Dailyhunt achieved the tag of Unicorn after the new funding of $100 million.
The company received funds for its parent company ‘Verse Innovation’
The investment has come through for DailyHunt’s take on TikTok – the short video platform Josh.
The news aggregator platform had launched Josh after the ban on TikTok in India.
About Company
The company was founded in 2009 as Newshunt, the Bengaluru-based content startup rebranded as DailyHunt in 2015.
It aggregates content from newspapers and websites in multiple Indian regional languages, including Marathi, Gujarati, Tamil and Bhojpuri.
Dailyhunt’s services also include original video content in Hindi and Telugu and free live TV streaming in multiple regional languages.
Investors
The company has received more than $100 million financing from Google, Microsoft and Falcon Edge’s Alpha Wave Incubation.
Existing investors Sofina Group and Lupa Systems also participated in the fundraise.
Object
The company plans to use the funds to scale up its short video app Josh, develop its content creator ecosystem and double down on its Artificial Intelligence and Machine Learning push.
Valuation
The new capital raises VerSe Innovation’s value at over $1 billion, making it the first unicorn in tech for local languages.
With the latest investment, the company plans to run with the ‘Atmanirbhar Bharat’ initiative to empower content creators in India.
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