<article>Vernacular news aggregation platform <a href="https://www.dealstreetasia.com/?s=Dailyhunt" target="_blank" rel="noopener">Dailyhunt </a>is in the process of raising $173 million in a fresh round of funding from New York-based investment bank <a href="https://www.dealstreetasia.com/?s=Goldman Sachs" target="_blank" rel="noopener">Goldman Sachs’</a> hedge fund, VCCircle <a href="https://www.vccircle.com/goldman-sachs-to-make-big-ticket-investment-in-content-platform-dailyhunt/">reported</a>.</article>

Vernacular news aggregation platform <a href="https://www.dealstreetasia.com/?s=Dailyhunt" target="_blank" rel="noopener">Dailyhunt </a>is in the process of raising $173 million in a fresh round of funding from New York-based investment bank <a href="https://www.dealstreetasia.com/?s=Goldman Sachs" target="_blank" rel="noopener">Goldman Sachs’</a> hedge fund, VCCircle <a href="https://www.vccircle.com/goldman-sachs-to-make-big-ticket-investment-in-content-platform-dailyhunt/">reported</a>.
Of the $173 million, the company has already secured $35.05 million, the report added citing latest filings with the ministry of corporate affairs. The round is expected to value Dailyhunt at $600-650 million, it added.
The development comes less than a month after Dailyhunt was reported to be closing a $60-million round from Goldman Sachs venture capital arm Goldman Sachs Investment Partners.
Operated by Verse Innovation Pvt. Ltd, Dailyhunt had raised Rs24.61 crore in a Series E2 funding round earlier this year from <a href="https://www.dealstreetasia.com/?s=Sequoia Capital" target="_blank" rel="noopener">Sequoia Capital</a>, Omidyar Network, and the Renu Sehgal Trust. It had earlier bagged Rs 36.9 crore from Singapore-based venture capital firm LightVC.
The company has garnered a total of $76.1 million in funding as of January, 2019, according to Crunchbase. Other investors in the startup include Matrix Partners India, Falcon Edge and Bytedance.
Dailyhunt aggregates news from a variety of newspapers and websites, and is available in 14 regional languages, including Marathi, Gujarati, Tamil and Bhojpuri. The platform claims to have crossed 160 million app installs offering 100,000 news articles from more than 1,000 publication partners on daily basis.
Besides, it also offers original video content in Hindi and Telugu and a free live television streaming service in nine languages through strategic partnerships. The company’s latest product, Newzly, is a news excerpts mobile application that provides customised trending headlines in nine languages.
Dailyhunt was floated by Umesh Kulkarni and Chandrashekhar Sohoni in 2009, and was previously known as Newshunt. Verse Innovation bought the company in 2012 and then rebranded it as DailyHunt in August 2015.
The company faces stiff competition from Tencent-backed NewsDog, Toutiao’s Helo, Alibaba-backed UCNews, and InShorts.
Also Read:
<a href="https://www.dealstreetasia.com/stories/sequoia-omidyar-dailyhunt-117990/">India: Sequoia, Omidyar back $3.5m funding in news aggregator Dailyhunt</a>
<a href="https://www.dealstreetasia.com/stories/newsdog-series-c-tencent-98294/" target="_blank" rel="noopener">Chinese tech giant Tencent backs $50m Series C round of Indian startup NewsDog</a>

Of the $173 million, the company has already secured $35.05 million. The round is expected to value Dailyhunt at $600-650 million.

Goldman hedge fund may invest $173m more in India's Dailyhunt: Report

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Goldman hedge fund may invest $173m more in India's Dailyhunt: Report

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