India-based news aggregator Dailyhunt has secured Rs 1.8bn ($23.4m) in series G funding from investors including digital media group ByteDance, Inc 42 has reported, citing a regulatory filing.
Asset management firm Falcon Edge Capital led the round with a $9.3m investment while ByteDance, investment banking firm Goldman Sachs and investment adviser Advent Capital Management each provided $4.7m.
DailyHunt operates a mobile platform that aggregates news, literary and video content according to users’ tastes. It was founded as NewsHunt in 2012 and has some 208 million monthly active users according to Inc 42.
The company had previously received approximately $125m in funding, most recently raising $2.9m from a vehicle called Stonebridge in August 2019. Investment firm Sofina had provided $22m in funding for DailyHunt three months earlier at a $534m valuation.
The May round came after DailyHunt had secured $35m in March 2019, according to another regulatory filing, having received $25m in funding from Bytedance, Matrix Partners India, Sequoia Capital India, Omidyar Network and Arun Sarin in 2016.
Falcon Edge Capital, Matrix Partners, Sequoia Capital and Omidyar Network had previously supplied a total of $40m in series A and B funding for the company the previous year.
