Dailyhunt, a Bengaluru-based news platform, announced it has raised Rs 38.27 crore from Sofina Group, a Belgium-based investment company. The current funding is an addition to its Series G funding that took place recently in which it had raised $23.5 million (approximately Rs 180 crore).
Post this financing round, the company has raised a total of Rs 218 crore in Series G funding round. Only a few days ago, Dailyhunt’s existing investors ByteDance, Falcon Edge, Advent Management, and Goldman Sachs participated in the Series G1 round.
“We have built our own real-time bidding engine for ads. Our tech stack is using machine learning to help our readers, advertisers, and content creators,” says Virendra Gupta, CEO of Dailyhunt, to a media platform.
Till now, Dailyhunt has raised a total of more than $150 million in funding over seven rounds from investors including Matrix Partners, Sequoia Capital India, and Arun Sarin, ex-chief executive officer of Vodafone.
Started as NewsHunt in 2009 by former Nokia employees Chandrashekhar Sohoni and Umesh Kulkarni, the platform was acquired by Verse Founder Virendra Gupta in 2012. In eight years, the startup has aggregated news for millions of information-starved Indians.
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