Debt Debt financing
Dailyhunt raises Rs.50-Cr from Alteria Capital
Source Inc42 (opens in a new tab)
Bengaluru-based VerSe Innovation, the parent of content and news aggregator Dailyhunt and video-sharing social networking service Josh, has raised debt of INR 50 crore (USD 6.25 million) from Alteria Capital. The company issued 5,000 Series C debentures at INR 1 Lakh each.The proceeds will be used for general corporate purposes and to fund business growth and expansion plans.VerSe reported losses to the tune of INR 1,909.7 crore in FY23, down by 25% from INR 2,563.3 crore FY22.