VerSe Innovation raises $450 mn in Series I funding from global investors

VerSe Innovation's proprietary technology platform serves one out of every two internet users in the country

VerSe Innovations, the parent company of short video platform Josh and digital media platform DailyHunt, raised over $450 million in a series I round of funding from investors Siguler Guff, Baillie Gifford, affiliates of Carlyle Asia Partners Growth II and others. Existing investors Sofina Group, Qatar Investment Authority and BCap also participated north of their pro-rata in this round.

This fund raised comes within five months of the company’s last raise of $200 million from investors Falcon Edge Capital via Alpha Wave Ventures, Glade Brook Capital Partners, Google, Microsoft and QIA.

With the current raise the company’s valuation is close