After TikTok exit, Josh raises USD 100 million

Days after Tik Tok announced the closure of its business in India, rival short-content platforms in India are garnering investors interest.

Published: 09th February 2021 10:19 AM  |   Last Updated: 09th February 2021 10:19 AM   |  A+A A-

Highly popular app like TikTok is just one among the 59 banned Chinese apps.

For representational purpose. (Photo | AP)

By Express News Service

BENGALURU: Days after Tik Tok announced the closure of its business in India, rival short-content platforms in India are garnering investors interest. VerSe Innovation, parent firm of short video app Josh, on Monday said that it has received over $100 million investment in a Series H funding round. 

The fresh funds-raise comes nearly two months after tech giants Google, Microsoft, and Alpha Wave poured in $100 million into the startup marking its entry into the unicorn club. Debuting as the first unicorn in tech for local languages last year, VerSe Innovation has seen tremendous investor interest in Josh since its launch, the company said.

The fresh $100 million funding was led by global investors Qatar Investment Authority (QIA), the sovereign wealth fund of the State of Qatar and Glade Brook Capital Partners. Canaan Valley Capital and existing investor Sofina Group also participated. 

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