Avendus Capital Advises Dailyhunt (Verse Innovation) on Its Series D Fund Raise From Bytedance.

Dailyhunt – India’s leading local language app has raised a primary investment round of $25Mn led by ByteDance.

Dailyhunt is serving a huge unmet need of providing local language content to Indian mobile users and has grown with its localized approach ad business model. We are excited about a long-term partnership here and believe in Dailyhunt’s long term potential to be the leading
mobile content platform in India

Dailyhunt has grown by partnering with publishers, developers, OEMs, Advertisers and other ecosystem partners. We want to thank our partners for their support and reaffirm our commitment to the local language digital ecosystem. The investment by ByteDance, who has
done this at scale, reinforces our belief in the opportunity. We look forward to learn from ByteDance on personalization and large scale machine learning to continue to offer a unique experience to our users

Dailyhunt is addressing the next 400M users who will be brought online by the coming explosion in data usage. We believe in their approach of working with every ecosystem player to bring the best content to the user. We are privileged to partner with Viru and the team at Dailyhunt and welcome ByteDance to the board and look forward to partnering with them to build a local language platform

It's amazing to see Sequoia founders connect and collaborate across geographies. ByteDance is one of the hottest and fastest growing companies today globally and when Virendra met Yiming they immediately saw an opportunity to partner and deliver personalised content & information to the worlds’ largest populations. It’s going to be a fun ride

This transaction marks the leading content app globally recognising Dailyhunt’s leadership position in the same segment in India. The ernacular market is poised for explosive growth in the next few years and we believe this partnership will help Dailyhunt build further on its dominant position in this space.