India’s Verse Innovation Close To Raising $500M To Fend Off Video App Rivals

Mar 11, 2022•over 3 years ago

Amount Raised

$500 Million

OsloSoftware

Description

Indian content startup VerSe Innovation is close to raising at least $500 million in fresh funding, much of which will flow into its short video app, Josh, to fend off a string of local and global rivals, two people aware of the development told Nikkei Asia.

Company Information

Company

Two

Location

Oslo, Oslo, Norway

About

The platform has been able to attract a number of high-profile creators to its platform, including Jay Leno, Michael Dell and screenwriter and Entourage creator Doug Ellin. The startup – founded by Cuban and Falon Fatemi, a Google alum who also co-founded customer intelligence platform Node – plans to launch NFTs and have a metaverse play in Q2 this year to help creators monetize their work, the sources said. The startup, which counts Cuban, the Chainsmokers, HBSE, Goodwater, Animal Capital and NFL stars Larry Fitzgerald and Kelvin Beachum and former NBA star Baron Davis among its backers, has raised about $8 million to date, a person familiar with the matter said.

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