Bengaluru-based news content aggregator Dailyhunt has raised more than ₹42 crores ($6 million) in an extended series E funding from New York-based hedge fund Falcon Edge, according to the documents filed with the Ministry of Corporate Affairs.
The documents reveal that Falcon Edge invested through its unit FO Mauritius III Ltd for 48,842 Preference shares allotted at a premium of ₹9,305.68.
The deal has not yet been confirmed by Dailyhunt, so far.
According to estimates by TechCircle the company was valued at ₹2,371 crores ($335 million) at current exchange rates) pre-money, which is close to its valuation from its Series D investment round pegged at around ₹2,230 crores ($330 million) then.
Founded in 2009 by Virendra Gupta, Dailyhunt leverages machine learning and deep learning technologies to curate and personalize news content as per the user preferences. It offers 100,000 news articles in 14 languages licensed from over 800 publication partners every day.
Earlier this year, it launched new application Newzly, that provides a summary of trending news articles across different categories in nine different Indian languages including Telugu, Tamil, Hindi, Kannada, among others.
Dailyhunt claims to have 90+ Million users with 7 Billion page views spending over 3.7 Billion minutes on the service every month.
The startup last raised $25 million in series D round led by ByteDance, along with participation from Sequoia Capital India, Omidyar Network, Matrix Partners, Falcon Capital, and Arun Sarin.
Other players competing with Dailyhunt in the vernacular content domain include ShareChat, Roposo, Vokal, Lokal, Samosa Labs, and Clip App, among many others.