Through the investments, the tech giant claims to deliver on its promise to supporting India’s startups to accelerate the country’s digital transformation
Inmobi's mobile-first content platform Glance has raised $145 million in fresh funding while VerSe Innovation, which runs Dailyhunt and short video app Josh, has raised $100 million.
In a bid to drive forward India’s digitisation, Google India has made investments in Indian startups Glance InMobi and VerSe Innovation, enabling them to further scale the availability of relevant and engaging content in different formats across various Indic languages. While Glance InMobi delivers visual, immersive and localised content experiences across products like Glance and Roposo, VerSe Innovation serves vernacular content in 14 languages through platforms like the Dailyhunt and Josh apps. “These investments underline our strong belief in partnering deeply with India’s innovative startups, and our commitment to working towards the shared goal of building a truly inclusive digital economy that will benefit everyone,” Caesar Sengupta, VP, Google, said in a blogpost.
As per sources, InMobi’s mobile-first content platform Glance has raised $145 million in fresh funding led by Google, along with participation from existing investor Mithril Capital. Interestingly. the investment in Glance comes six months after Google announced its plan to invest $10 billion in India over the next five to seven years to accelerate the pace of digitisation in the country. According to the company, it’s been 18 months since the launch of Glance, and in that short span of time, the platform has grown to become one among the top 10 consumer apps globally, alongside the likes of Facebook, YouTube, WhatsApp, WeChat, Twitter, Snapchat and others.
As for VerSe Innovation, which runs Dailyhunt and short video app Josh, has raised $100 million (about Rs 739 crore) from AlphaWave, Google and Microsoft along with existing investors, Sofina Group and Lupa Systems. The company plans to spend the fresh capital towards augmenting its product offerings. “VerSe plans to deploy its new capital steadily in the continued scaling up of Josh, the augmentation of local language content offerings, the development of content creator ecosystem, innovation in artificial intelligence (AI) and machine learning (ML) and the growth of its truly made-in-Bharat-for-Bharat short-video platform,” the company said in a statement.