Noida-based content discovery app Inshorts has raised $5 Mn funding from Tiger Global Management’s Singapore investment vehicle, Internet Fund III Pte Holdings. The investment, as per the company’s filings, was made in Inshorts’ Singapore-registered holding company in September 2017.
The amount was later transferred to the startup’s Indian subsidiary, Inshorts Media Labs. The capital has been secured from Tiger Global as part of a bridge round.
Speculations about the fundraise first surfaced in August this year, when it was reported that the New York-headquartered investment firm was in talks to lead a $10 Mn-$15 Mn round of funding in the media startup. Tiger Global has previously fuelled $20 Mn in Inshorts in July 2016.
Email queries sent to Tiger Global’s corporate communication team and Inshorts’ co-founder Deepit Purkayastha did not elicit a response till the time of publication.
An Overview Of The Inshorts Story
Founded in April 2013 by Azhar Iqubal, Deepit Purkayastha and Anunay Arunav, Inshorts (formerly known as News Inshorts) is a digital media startup that provides aggregated news items. Additionally, Inshorts works as a content discovery platform with videos, infographics, podcasts and blogs, among other kinds of content, in English and Hindi.