Dailyhunt raises Rs 267.1 crore from James Murdoch’s Lupa India
The investment is expected to be instrumental in bolstering Dailyhunt's presence at a time when digital content consumption has grown due to the COVID-19 lockdown
Dailyhunt, the local language news app, has reportedly raised Rs 267.1 crore ($35.6 million) in series G funding from James Murdoch’s Lupa India. This follows funding of Rs 180 crore raised last week, therefore, putting the total amount secured at Rs 485 crore. The investment is expected to be instrumental in bolstering Dailyhunt's presence at a time when digital content consumption has grown due to the COVID-19 lockdown.
According to reports, DailyHunt will allot 205,523 Series G3 preference shares and 10 equity shares to Lupa India Holdings LLC at a price of Rs 12,995.84 per share, giving Lupa India a 5.7% stake in the firm on a fully diluted basis.
Founded in 2009 as Newshunt, the company was rebranded as DailyHunt in 2015. The news aggregation app is available across vernacular languages, and apart from its operations in India, it has a presence in several countries including Bangladesh, Nepal, Sri Lanka, and in a few African countries.
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