- Till now more than $120 million raised by Dailyhunt in seven rounds
- Company will use the funds for business growth and to strengthen its technology
Dailyhunt, a mobile application that provides local language content, has raised $23.5 million in a Series G funding round led by existing investors such as ByteDance, FalconEdge, Advent Management and Goldman Sachs. The company was founded by ex-Nokia employees Chandrashekhar Sohoni and Umesh Kulkarni in 2009. which was later in 2012 was acquired by Verse Founder Virender Gupta.
Till now, it has raised a total of more than $120 million in funding over seven rounds, so far, from investors including Matrix Partners, Sequoia Capital India, and Arun Sarin, ex-chief executive officer of Vodafone.
Earlier, it had acquired LocalPlay, a hyperlocal video and news content application, in a bid to boost its presence in Tier II and III geographies.
The company will utilize these funds in business growth and strengthen its technology department.
Dailyhunt is a mobile application that provides local language content in 14 Indian languages from over 1000+ content providers. Verse Innovation Private Limited is the parent company of Dailyhunt.
Now Company is working on development of Video platform with plans to revive content commerce and with acquisition of LocaPlay, it is working to power local videos to drive local advertising.
Virendra Gupta, said,
“We have built our own real-time bidding engine for ads. Our tech stack is using machine learning to help our readers, advertisers, and content creators.”