# VerSe Innovation Private

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/verse-innovation-private

- Industry: Media
- Headquarters: Bangalore, India
- Website: www.verse.in/
- Total disclosed funding: $1.7B
- Latest round: Series J (Apr 6, 2022)
- Investors on record: 28

## About

Based in Karnataka, India, and founded in 2007, VerSe Innovation Private Ltd., operates as a provider of Dailyhunt, and Newshunt and is a provider of news and digital content. Dailyhunt was launched as Newshunt by former Nokia executives Umesh Kulkarni and Chandrashekhar Sohoni and subsequently sold to Verse Innovation in 2012. In February 2024, VerSe Innovation raised INR 500 million in venture debt funding from Alteria Capital.

The mobile application uses a proprietary algorithm to deliver personalized news content. Dailyhunt offers news articles and other digital content in 15 languages. The application uses machine learning and deep learning technologies which enables personalized content to be delivered to users based on their consumption preferences.

The company generates its revenue by offering its mobile application on a subscription basis to consumers.

The company plans to use its February 2024 funding to boost its growth and expansion plans.

## Funding rounds

- Series J, Apr 6, 2022, $805M — Ontario Teachers' Pension Plan, CPP Investment Board, Sofina, Luxor Capital Group, Baillie Gifford, Sumeru Ventures
- Series I, Feb 9, 2022, $5.5M — Catamaran Ventures
- Series I, Dec 25, 2021, $52M — Kotak Alternate Asset Managers, Trifecta Capital Partners, Luxor Capital Group, Bay Capital, Sixteenth Street Capital
- Series I, Aug 12, 2021, $450M — Siguler Guff, Sofina, Qatar Investment Authority, B Capital, Baillie Gifford
- Series H, Feb 2, 2021, $105M — Sofina, Qatar Investment Authority, Glade Brook Capital Partners, Canaan Valley Capital
- Series H, Jan 12, 2021, $103M — Sofina, Microsoft, Google Inc., Alpha Wave Global, Lupa Systems
- Series H, Nov 9, 2020, $9.8M — B Capital
- Series G, Apr 28, 2020, $35M — Lupa Systems
- Series G, Apr 6, 2020, $24M — Sofina, Goldman Sachs Asset Management, Alpha Wave Global, ByteDance Ltd.
- Series F, Jul 29, 2019, $3M — Goldman Sachs Asset Management, Stonebridge Capital
- Series E, Jan 21, 2019, $12M — Matrix Partners, Alpha Wave Global
- Series E, Dec 21, 2018, $3.5M — Hong Shan, Omidyar Network, Renu Sehgal Trust
- Series E, Aug 17, 2018, $6.5M — Alpha Wave Global
- Series D, Dec 20, 2016, $20M — Hong Shan, ByteDance Ltd.
- Series D, Sep 14, 2016, $25M — Matrix Partners, Hong Shan, Alpha Wave Global, Omidyar Network, Franklin Templeton, ByteDance Ltd.
- Series C, Jan 29, 2015, $20M — Matrix Partners, Hong Shan, Alpha Wave Global, Omidyar Network
- Series B, Sep 18, 2014, $15M — Matrix Partners, Hong Shan, Omidyar Network

## Investors

- Matrix Partners (https://capitalatlas.ai/funds/matrix-partners) — Series B, Series C, Series D, Series E
- Hong Shan — Series B, Series C, Series D, Series E
- Omidyar Network (https://capitalatlas.ai/funds/omidyar-network) — Series B, Series C, Series D, Series E
- Alpha Wave Global (https://capitalatlas.ai/funds/alpha-wave-global) — Series C, Series D, Series E, Series G, Series H
- Franklin Templeton (https://capitalatlas.ai/funds/franklin-templeton) — Series D
- ByteDance Ltd. — Series D, Series G
- Renu Sehgal Trust — Series E
- Goldman Sachs Asset Management (https://capitalatlas.ai/funds/goldman-sachs-asset-management) — Series F, Series G
- Stonebridge Capital (https://capitalatlas.ai/funds/stonebridge-capital) — Series F
- Sofina — Series G, Series H, Series I, Series J
- Lupa Systems (https://capitalatlas.ai/funds/lupa-systems) — Series G, Series H
- B Capital (https://capitalatlas.ai/funds/b-capital) — Series H, Series I
- Microsoft — Series H
- Google Inc. — Series H
- Qatar Investment Authority (https://capitalatlas.ai/funds/qatar-investment-authority) — Series H, Series I
- Glade Brook Capital Partners (https://capitalatlas.ai/funds/glade-brook-capital-partners) — Series H
- Canaan Valley Capital — Series H
- Siguler Guff (https://capitalatlas.ai/funds/siguler-guff) — Series I
- Baillie Gifford (https://capitalatlas.ai/funds/baillie-gifford) — Series I, Series J
- Kotak Alternate Asset Managers (https://capitalatlas.ai/funds/kotak-alternate-asset-managers) — Series I
- Trifecta Capital Partners — Series I
- Luxor Capital Group (https://capitalatlas.ai/funds/luxor-capital-group) — Series I, Series J
- Bay Capital (https://capitalatlas.ai/funds/bay-capital) — Series I
- Sixteenth Street Capital — Series I
- Catamaran Ventures (https://capitalatlas.ai/funds/catamaran-ventures) — Series I
- Ontario Teachers' Pension Plan — Series J
- CPP Investment Board — Series J
- Sumeru Ventures (https://capitalatlas.ai/funds/sumeru-ventures) — Series J