Tech Company Financing Transactions
VerSe Innovation Funding Round
VerSe Innovation, based in Bangalore , scored $805 million in funding from Canada Pension Plan Investment Board, Luxor Capital and Ontario Teachers' Pension Plan.
Transaction Overview
Company Name
Announced On
4/6/2022
Transaction Type
Venture Equity
Amount
$805,000,000
Round
Undisclosed
Investors
Proceeds Purpose
The startup will use the money to strengthen its AI/ML (artificial intelligence/machine learning) capabilities and invest in new efforts such as live streaming and Web 3.0, giving it ammunition to battle local rivals such as ShareChat and global competitors such as Instagram and YouTube.
Company Information
Company Status
Private & Independent
Industry
Digital Media & VR & AR
Mailing Address
6, 14th Main Road, HSR Layout, 5th Sector,Karnataka
Bangalore , 560102
India
Bangalore , 560102
India
Phone
Undisclosed
Website
Email Address
Overview
VerSe was founded in the year 2007, as a pioneering expedition in the consumer-facing internet business. The organisation from its inception was heavily indented towards the leading edge of technological development. It sought to bridge the urban-rural digital divide in the country. With a substantial footprint in the value-added service ecosystem, VerSe broke new ground in the content and entertainment domain. This foray was augmented in large part owing to the company's heavy investment in Artificial Intelligence and Machine Learning.
Profile
Social Media
Company News
Facebook
YouTube
Management Team
Title
Name
Email & Social
Co-Founder
Umang Bedi
Founder
Virendra Gupta
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Our team works diligently to report on tech company VC transactions. VC investment data records reported here are sourced from news reports and company announcements. The data is sourced from VentureDeal.com, an affiliated venture.
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