Existing investors Sofina Group, Qatar Investment Authority and BCap also participated in the round that has seen its valuation double from the previous fundraise, the company said in a press statement. VerSe will use the capital to grow its short-video platform Josh, strengthen its technological platform and to broaden its AI/ML and data science capabilities across all user, engagement and retention metrics, drive further on monetization including ecommerce and live streaming, the company said in a release. At the time the company was valued at over $1 billion.