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Short news aggregator Inshorts raises $60 mn

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New Delhi, July 15 (IANS) Short news aggregator Inshorts on Thursday said it has secured $60 million in funding from Vy Capital with participation from existing investors.

Inshorts, which also operates location-based social media platform Public, has raised $140 million in the last one year from investors including Addition, Tiger Global, SIG, A91 and Tanglin Venture Partners.

“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, Co-Founder and CEO.

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Inshorts has more than 10 million users on its platform. The app curates the most significant news items of the day, across categories like national, world, politics, business, sports, technology and entertainment, in just 60 words.

Inshorts said it has more than 3 billion page views per month.

“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,” said Vamsi Duvvuri, Partner, Vy Capital.

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The company launched Public app two years ago. The app has over 50 million active users and sees one million videos being created every month.

It is available in all major languages including Hindi, Bengali, Punjabi, Telugu, Tamil, Kannada, Malayalam, Odia, Assamese, Gujarati and Marathi.

Public has amassed a large user base in the Tier 2, Tier 3 cities.

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Public earlier raised Rs 260 crore in funding led by Addition, along with SIG and Tanglin Venture Partners.

It is a social network for hyper-local updates and happenings to hyper-local commerce, jobs, classifieds and more.

–IANS

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