Total amount raised
$164.9 Millions
Latest funding date
7/1/2021
Location
Inshorts has successfully raised funds through multiple rounds, with notable investors such as Vy Capital and Kisho Capital backing the company. The platform offers a unique service by summarizing news articles into 60-word snippets, catering to users who prefer quick and concise updates.
Keep reading to explore the intricacies of Inshorts' fundraising journey and the investors supporting this innovative news aggregation platform.
What Is Inshorts?
Inshorts, founded in April 2013, is based in Noida, Uttar Pradesh, India. The company was established by Anunay Pandey, Azhar Iqubal, and Deepit Purkayastha.
Inshorts specializes in delivering news articles in a concise 60-word format, catering to users who prefer quick updates. The app covers a wide range of topics, including tech and business, and offers personalized news feeds powered by an AI engine.
With a workforce of 501-1000 employees, Inshorts continues to innovate in the digital media space, providing users with a streamlined news consumption experience.
How Much Funding Has Inshorts Raised?
Pre-Seed Round
- Amount Raised: $20K
- Date: September 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of the Inshorts platform.
Seed Round
- Amount Raised: Not publicly disclosed
- Date: November 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the app and expand initial user base.
Seed Round
- Amount Raised: Not publicly disclosed
- Date: July 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance app features and increase market reach.
Series A
- Amount Raised: $4M
- Date: February 2015
- Lead Investors: Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and improve technology infrastructure.
Series B
- Amount Raised: $20M
- Date: July 2015
- Lead Investors: Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand user base and enhance content offerings.
Venture Round
- Amount Raised: $5M
- Date: December 2017
- Lead Investors: Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth and new feature development.
Venture Round
- Amount Raised: $35M
- Date: September 2020
- Lead Investors: Addition
- Valuation at Round: $125M
- Motivation Behind the Round: To expand the reach of the Public app and enhance user engagement.
Venture Round
- Amount Raised: $41M
- Date: March 2021
- Lead Investors: A91 Partners
- Valuation at Round: $250M
- Motivation Behind the Round: To scale the Public app and increase market penetration.
Venture Round
- Amount Raised: ₹4.5B (approximately $60M)
- Date: July 2021
- Lead Investors: Vy Capital
- Valuation at Round: $550M
- Motivation Behind the Round: To further scale the Public app and expand its user base.
Total Amount Raised: $185M. Current Valuation: $550M.
Key Investors
- Vy Capital
- Details: Vy Capital is a global technology investment firm known for its focus on high-growth companies. The firm has a significant presence in the tech industry and has been involved in multiple high-profile investments.
- Investment Focus Areas: Technology, internet, software companies.
- Notable Investments: Reddit, Zomato, UrbanClap.
- Addition
- Details: Addition is a venture capital firm founded by Lee Fixel, focusing on early and growth-stage technology companies. The firm aims to support innovative startups with the potential for significant growth.
- Investment Focus Areas: Early-stage technology, high-growth sectors.
- Notable Investments: Flipkart, Peloton, SurveyMonkey.
- Tiger Global Management
- Details: Tiger Global Management is a global investment firm that invests in private and public companies. The firm has a strong track record in the internet, software, consumer, and financial technology sectors.
- Investment Focus Areas: Internet, software, consumer, financial technology.
- Notable Investments: Facebook, LinkedIn, Spotify.
- SIG
- Details: Susquehanna International Group (SIG) is a global quantitative trading firm with a broad investment focus. The firm is known for its investments in technology, healthcare, and financial services.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: ByteDance, Alibaba, Meituan-Dianping.
- A91 Partners
- Details: A91 Partners is an investment firm focused on high-growth companies in India. The firm supports businesses across various sectors, aiming to foster innovation and growth.
- Investment Focus Areas: Consumer, healthcare, financial services, technology.
- Notable Investments: Sugar Cosmetics, Digit Insurance, Hector Beverages.
What's Next for Inshorts?
Inshorts stands at the cusp of significant growth opportunities, particularly with its Public app, which has amassed over 60 million monthly active users. The app's focus on local content in multiple Indian languages positions it well to capture a larger share of the burgeoning digital content market in India. The recent $60 million funding round led by Vy Capital will further fuel this expansion, enabling Inshorts to enhance its technology and broaden its user base.
Future fundraising seems promising, given the company's rapid growth and increased valuation. Investors are likely to continue their support, especially as Inshorts leverages the growing demand for localized social media and short-form content. However, the company will need to navigate intense competition from other platforms like Dailyhunt and maintain high user engagement amidst evolving digital trends.
Use Clay to Get Funding Data
Sales professionals, take advantage of Clay's platform to access comprehensive fundraising data on companies like Inshorts and gather other critical business insights.
Sign up for free on Clay and elevate your sales strategy with unparalleled data and insights.
