Google-Backed VerSe Valued at $5 Billion in Latest Funding Round

Geetha Sridha, 54, makes a video with her daughter Sarada Sridhar, that will upload on an Indian short video app, in Mumbai, India, on July 1, 2020. Hemanshi Kamani/Reuters

NEW DELHI—India’s VerSe Innovation has raised $805 million in a funding round led by Canada’s top pension fund, putting a $5 billion valuation on the Google-backed parent of short-video app Josh and news aggregator Dailyhunt.

The funding round saw participation from firms including Canada Pension Plan Investment Board, Ontario Teachers’ Pension Plan Board, Luxor Capital and Sumeru Ventures.