Indian news app Inshorts raises $60m funding led by Vy Capital

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Inshorts, which operates eponymous news app Inshorts and location-based social media platform Public, has secured $60 million in a funding round led by technology-focused venture capital firm Vy Capital, along with the participation of existing investors, per a company statement.

The funding is said to have valued the company at about $500 million.

The latest funding is in addition to $41.3 million that the company had raised for its Public app in March. With the latest round, the company has raised a total of $140 million in the last year alone 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 and we are thrilled to have Vy Capital join us in our journey,” said Inshorts co-founder & CEO Azhar Iqubal.

Founded in 2013, Inshorts is an aggregator app that summarises news in 60 words. The platform currently claims to have 10 million users. It launched Public App, a location-based social media app, two years ago. The company claimed that Public had amassed a large user base in tier 2, tier 3 cities of the country and is available in all regional languages.

Ever since India banned Chinese apps including TikTok, Bigo Live, Vigo Video owing to a border tiff with China last year, homegrown social networks are seeing increased investor interest. InMobi’s content platform Glance, which also owns short video app Roposo, raised $145 million led by Google in December last year. At the same time, regional language news aggregator Dailyhunt, which also runs a short video service, raised $100 million.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.