Avendus Capital Advises Verse Innovation on Yet Another USD 100 Mn+ Fund Raise From Qatar Investment Authority and Glade Brook Capital Partners

Debuting as the first unicorn in tech for local languages last year, VerSe Innovation has seen tremendous investor interest in Josh since its launch. This new infusion of capital adds Glade Brook Capital Partners and Qatar Investment Authority to a stellar line up of existing blue-chip investors that include Google, Microsoft, AlphaWave, Goldman Sachs, Sofina Group, Lupa Systems, Matrix Partners India, Sequoia Capital India, Falcon Edge Capital and Omidyar Network, among others.

In a show of extraordinary confidence in the potential of it’s made-in-India, short-video app Josh, this funding sets VerSe Innovation on a strategic expansion path for its family of apps focused on Bharat. It also comes at a time when India embarks on a journey of economic recovery, underscored by a laser sharp focus on an Aatmanirbhar Bharat. VerSe Innovation plans to deploy this capital steadily in the continued scaling up of “made in Bharat, for Bharat, by Bharat, in 12 Bhartiya languages, hosted in Bharat” short video platform Josh. This will include the augmentation of local language content offerings, the development of its content creator ecosystem, innovation in AI and ML and more importantly, creation of opportunities for India’s vast talent pool.