At a time when a number of startups are finding it difficult to raise capital, VerSe Innovation, the parent firm of news aggregator app Dailyhunt and short-video app Josh, said on Wednesday it has raised $805 million.

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.

https://m.dailyhunt.in/

Dailyhunt And Josh Apps Parent Firm Raises $805 Million At $5 Billion Valuation

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Dailyhunt And Josh Apps Parent Firm Raises $805 Million At $5 Billion Valuation

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