Bytedance-backed news and literary content aggregation service Dailyhunt reportedly increased its overall funding to $140m, after Sofina invested at a $534m valuation.
Dailyhunt, an India-based news and literary content portal backed by digital media company ByteDance, has secured $22m from investment firm Sofina at a $534m valuation, TechCircle has reported.
The cash was supplied last month and comes on top of $35m from investment bank Goldman Sachs. Both are part of a round reports in March this year suggested had a $173m target, and the company is in talks to raise $150m from telecommunications and internet group SoftBank according to LiveMint.
Formerly known as Newshunt, Dailyhunt runs a mobile platform that provides aggregated news content for users in 14 languages. It also offers original video content and a live television streaming service with more than 130 channels.
ByteDance led Dailyhunt’s $25m series D round in 2016, investing alongside Arun Sarin and existing backers Matrix Partners India, Sequoia Capital India and Omidyar Network.
Another existing investor, Falcon Edge Capital, subsequently supplied $6.4m in funding for the company in September 2018. It had previously raised $40m across its series A and B rounds.
