The company runs the Josh app, billed as the Instagram for Bharat, referring to non-English speaking India that lives outside its six affluent top cities
An Indian social content startup that launched its short video app exactly four days after the government banned China’s TikTok, has received $805m in funding, the country’s largest venture capital round in 2022.
The Bangalore-based company runs the Josh app, billed as the Instagram for Bharat, referring to non-English speaking India that lives outside its half-dozen affluent top cities. VerSe also owns local language content delivery platform Dailyhunt, which preceded Josh, and also focuses on India’s “next billion” regional-language users.
India’s short video startups have seen sky-rocketing growth after India banned TikTok and a rash of Chinese-origin apps in June 2020. Since then, Josh and its rivals such as Roposo and Moj have registered record user numbers, engagement and revenues. ShareChat, the parent of Moj, is in discussions to raise $200m from investors including Temasek and Alphabet Inc.’s Google at a $5bn valuation, Bloomberg News recently reported.
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