BENGALURU -- Indian content startup VerSe Innovation is close to raising at least $500 million in fresh funding, much of which will flow into its short video app, Josh, to fend off a string of local and global rivals, two people aware of the development told Nikkei Asia.
The valuation for VerSe, which also owns news aggregator DailyHunt, could top $5 billion in the new round, which is likely to be led by the Canada Pension Plan Investment Board (CPPIB). New York-headquartered Luxor Capital will also participate, they added.
