Dailyhunt Parent VerSe Innovation Turns Unicorn With $100 Million Funding From Google, Microsoft

• Ver Se' Innovation, which owns and operates Dailyhunt, has raised $100 million funding at a valuation of over $1 billion.
• The company will be use funding to scale up the recently launched short video app Josh, augment local language content offerings, develop the content creator ecosystem, etc.
• Last Month, Dailyhunt had received Rs 73 crore in a Series H funding round from B Capital Group.

Bengaluru-based Ver Se' Innovation, which owns Dailyhunt, has become India's first tech unicorn focused on vernacular content after raising $100 million in funding at a valuation of over $1 billion (approx. Rs 7,384 crore).

The latest funding round was led by Google LLC, Microsoft Corporation, and Falcon Edge's Alpha Wave Incubation. Existing investors Sofina Group and Lupa Systems also participated in the funding round.

The company will use the funding to scale up the recently launched short video app Josh, expand its content offering, develop a content creator ecosystem, and leverage artificial intelligence (AI) and machine learning (ML) in its platform.

With this fundraise, The company claims to become the first Indian unicorn in tech for local languages.

The latest funding comes at a time when the company is expanding its app portfolio through its recently launched short video app Josh.

In November 2020, The company has received Rs 73 crore in a Series H funding round from B Capital Group. To date, It has raised over $234 million in funding.

Founded in 2009 by Umesh Kulkarni and Chandrashekhar Sohoni, Ver Se' Innovation Pvt. Ltd., which acquired Dailyhunt (formerly Newshunt) in 2012, offers news in 14 different languages from multiple content providers.

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The company claims to have over 80+ million monthly active users (MAU) alone in Dailyhunt, offering news in 14 different vernacular languages from over 800 publication partners every day.

Ver Se' recently launched Josh has around 77 million monthly active users (MAU), 36 million daily active users, and more than 1.5 billion video plays per day, the company said.

The company aims to expand into other countries to extend its broad-based tech platforms in serving similar unmet content needs of local language audiences globally.

Dailyhunt currently supports 14 different local languages, including English, Hindi, Marathi, Tamil, Telugu, Gujarati, Bhojpuri, Nepali, Bengali, Kannada, Punjabi, Urdu, Odia, and Malayalam.

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