Dailyhunt raised Rs 180cr from existing investors Bytedance, Falcon Edge, Advent Management & Goldman Sachs, according to MCA filings Dailyhunt has raised Rs 71.85 cr from Falcon Edge while ByteDance, Goldman Sachs & Sofina invested Rs 35.92 cr each.
Dailyhunt issued 55,294 shares to Falcon Edge, 27,647 shares each to ByteDance, Goldman Sachs & Sofina at a price of Rs 12,965 with a nominal price of Rs 30.
Dailyhunt is a news aggregation app available in over 14 vernacular languages like Marathi, Gujrati, Nepali and more, it also operates in countries like Sri Lanka, Nepal, Bangladesh & some African countries
It has been downloaded over 155 Mn, gets news and media content from over 1300 publication partners, with over 263 Mn monthly active users and 208 Mn monthly active users
The funding might help the startup to leverage this opportunity and grow its user base further, as in the lockdown time digital media platforms are witnessing a surge