News in Shorts, an application that provides news in less than 60 words, has raised ₹25 crore in its first institutional funding led by Tiger Global.
The ‘Series A’ funding also saw participation from Rebright Partners of Japan and existing investors Sachin and Binny Bansal (Flipkart co-founders).
“We believe in the immense potential and high traction that the application is already getting, and this round of funding will give wings to their ambitions,” said Sachin Bansal.
Seed round
In June 2014, the company raised its seed round led by angel investors and mentors Ankush Nijhawan, Gaurav Bhatnagar and Manish Dhingra, with participation from Sachin and Binny Bansal, and Times Internet.
The application, founded by IIT Delhi alumni Azhar Iqubal, has been downloaded more than 100,000 times.
“Mobile content is ripe for disruption, and the News in Shorts team understands the opportunities very well. We believe they can revolutionise the way content is being consumed on mobile devices. The 60-word news ‘shorts’ is just a step towards that goal,” said Lee Fixel of Tiger Global.