Dailyhunt Raises INR 73 Cr, Restructures Ownership After 26% FDI Cap

News aggregator Dailyhunt has raised INR 73 Cr in primary capital from B Capital Group, and the company is reportedly moving fast to rework its ownership structure, after the Indian government, last month, reiterated its decision of capping the foreign investment for digital media entities at 26% by October 2021.

Dailyhunt (formerly Newshunt), is an Indian content and news aggregator application based in Bangalore, India that provides local language content in 14 Indian languages from multiple content providers. Launched in 2009 by Umesh Kulkarni and Chandrashekhar Sohoni Dailyhunt group claims to have 263 Mn monthly active users across all platforms, their app is said to have 208 Mn monthly active users.

Dailyhunt operates three subsidiaries, Eterno Infotech, Rocket Science Innovations and Greynium Information. Of late, the company has diversified its operations, also launching a TikTok alternative short video app called Josh in July.

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