JOSH PARENT VERSE RAISES $450 MILLION

Friday 13th August, 2021

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JOSH PARENT VERSE RAISES $450 MILLION Tarush Bhalla tarush.b@livemint.com BENGALURU: VerSe Innovation Pvt. Ltd, the parent of local language news aggregator Dailyhunt and short-video app Josh, has raised $450 million in funding from investors including Siguler Guff, Baillie Gifford and Carlyle Asia Partners Growth 11. Existing investors Sofina Group, Qatar Investment Authority ( Q1 A) and BCap also participated in the Series I round. With this, VerSe Innovation Ss valuation stands at nearly $3 billion, said a person aware of the discussion, requesting anonymity. The latest round will also see some employees and early-stage investors sell their stocks, the person added. This is the third fundraising for VerSe Innovation in nine months. It has raised more than $650 million in funding since December. In its previous Series H round in February, VerSe raised more than $200 million from the likes of Falcon Edge Capital via Alpha Wave Ventures, Glade Brook Capital Partners, Google, Microsoft and OIA.