[Funding alert] Inshorts raises $60M from Vy Capital and existing investors
The startup’s two main platforms – Inshorts and Public are bringing content and networking capabilities to build a stronger connect with its consumer base
the news aggregator app, has raised $60 million in funding from Vy Capital with participation from existing investors.
Following this funding round, Inshorts has raised $140 million in the last one year from investors including Addition, Tiger Global, SIG, A91 and Tanglin Venture Partners, a statement said.
“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 and we are thrilled to have Vy Capital join us in our journey,” said Co-founder & CEO, Azhar Iqubal.
Inshorts, which was launched eight years ago has more than 10 million users on its platform, according to the startup. The company also launched the Public App, a location based social media app, two years ago which it says a network with 50 million plus active users and one million videos being created every month.
According to Inshorts, Public has amassed a large user base in the Tier II, Tier III cities of the country, and is available in all regional languages. According to the founder, Public enables users to remain connected to one’s locality.
“We are excited to partner with Azhar and team in their journey to build one of the largest content platforms out of India, running two market leading properties with a rapidly growing user base. We look forward to working closely with the company and the team as it enters the next phase of scaling” said Vamsi Duvvuri, Partner, Vy Capital.
Edited by Anju Narayanan