Dailyhunt's parent raises $450 Mn valued breaches $3 billion
Dailyhunt's parent raises $450 Mn valued breaches $3 billion: VerSe Innovation Pvt. Ltd, the parent company of online news and content firm Dailyhunt and short video app Josh , has raised $450 million as a part of its new Series I funding round, just around six months after it secured Series H funding. VerSe Innovation said in a statement that its valuation has more than doubled in the past five months. The company will use the fresh capital to consolidate its position in the content space, and deepen and broaden its artificial intelligence, machine learning and data science capabilities. However, Dailyhunt’s operating revenue reaches Rs 268 Cr in FY20 and the losses jump Rs 400 Cr mark. With this, VerSe Innovation’s valuation stands at nearly $3 billion. With this, VerSe Innovation’s valuation stands at nearly $3 billion. Dailyhunt claims to serve over 300 million users every month whereas the short video app Josh claims to have 11...