Public App, a location-based social network, has raised Rs 300 crore (about $41.3 million), led by A91 Partners, according to ET report. Existing investors – former Tiger Global top executive Lee Fixel’s Addition, SIG Global and Tanglin Venture Partners also took part in the funding round.
Founded by online news aggregator platform InShorts in April 2019, Public intends to utilise the capital to scale up infrastructure, grow content and to recruit more people. The platform disseminates local news and happenings. It is targeting users in smaller towns and cities. People can record events taking place around them via short videos.
“We are very excited to have A91 Partners join us in our journey towards building the world’s largest location-based social network,” said Azhar Iqubal, founder and CEO, Public App and InShorts.
“With more than 50 million active users in India, we aim to connect the hyper-local communities of Bharat and later make the product global,” Iqubal said. Public has over 50 million active users, the company said, and is acquiring over five million new users each month. Users spend 20-30 minutes per day on the app, he said.
“Public has continued to maintain best-in-class retention and engagement metrics while scaling. We look forward to working closely with the founders to help build an outstanding company,” said Gautam Mago, General Partner, A91 Partners.
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