InShorts raises $60 mn in Vy Capital led round

News aggregator Inshorts on Thursday said it has raised $60 million (Rs 446 crore) led by Vy Capital. 

Other existing investors also participated in the funding round, said Inshorts in a statement. 

With this funding, Inshorts and its location based social network Public App have raised $140 million in the last one year from investors including Lee Fixel's Addition, Tiger Global, SIG, A91 Partners and Tanglin Venture Partners. 

Just in March 2021, Public App, which was launched by Inshorts in 2019, had raised Rs 300 crore ($41.3 million) in a funding round that saw Mumbai based private equity firm A91 Partners join its cap table.  

“The world is changing every minute, and each one of us has an inherent desire to remain updated about these changes. Both Inshorts App and Public App are aimed to help some of these people in their quest of keeping themselves informed," said Azhar Iqubal, cofounder and CEO of Inshorts. 

Inshorts, founded in 2013 by Iqubal, Deepit Purkayastha, and Anunay Arunav, provides news in 60 words. It claims it has more than 10 million users on its platform and has more than three billion page views per month. 

The Public App has more than 50 million active users. It is available in all major Indian languages including Hindi, Bengali, Punjabi, Telugu, Tamil, Kannada, Malayalam, Odia, Assamese, Gujarati and Marathi. 

VerSe Innovation Pvt Ltd, the parent of Dailyhunt, is the most cashed up startup in the online news and content space. 

In December last year, Dailyhunt raised over $100 million in a fresh fundraising exercise from marquee investors including Falcon Edge Capital-managed Alpha Wave and technology giants Google and Microsoft. This round took the valuation of the company to over $1 billion, pushing it into the unicorn club of technology startups.