Bengaluru: News in Shorts, the Delhi based startup which operates a mobile app for short stories of the recent news, raises $20 million in its Series B round of funding led by its existing investor Tiger Global. Earlier this year in February, the company had also raised $4 million as its Series A led by Tiger Global, along with participation from Rebright Partners (Japan) and other existing angels. Through the latest hike, the total value of the company rises to around $90-100 million.
Founded in 2013 by a trio of IIT alumni – Azhar Iqubal, Anunay Arunav and DeepitPurkayastha, News in Shorts provides the users with short and crisp news within 60 words to update you in minutes. The idea for the startup stemmed out of a personal experience of the founders who were not accustomed to reading long elaborate news and hence found it very difficult to keep up with the national and global day-to-day happenings.
The platform gives short summaries of the day’s top stories across a wide range of categories, including sports, entertainment, national and international news. Each of these news summaries are written by the company’s in-house team of editors. It also includes a link to the in-depth story with further information. Readers can also opt for push notifications. The same innovation has pushed the company to cross the 1million download mark with a 4.5 star rating on Google Play Store.