News In Shorts, an application that provides news in less than 60 words, has raised Rs 25 crore in its first institutional funding led by Tiger Global.
The ‘Series A’ funding also saw participation from Rebright Partners of Japan and existing investors Sachin and Binny Bansal (Flipkart co-founders), the company said in a statement.
“Mobile content is ripe for disruption, and the News in Shorts team understands the opportunities very well. We believe they can revolutionise the way content is being consumed on mobile devices. The 60-word news ‘shorts’ is just a step towards that goal,” said Lee Fixel of Tiger Global.
In June 2014, the company raised its seed round led by angel investors and mentors Ankush Nijhawan, Gaurav Bhatnagar and Manish Dhingra, with participation from Sachin and Binny Bansal, and Times Internet.
“Clutter-free and immensely fast, News In Shorts gains the faith of a user in a short period of time. We believe in the immense potential and high traction that the application is already getting, and this round of funding will give wings to their ambitions,” said Sachin Bansal.
The application, which has a 4.6 star rating on Google store, has been downloaded more than 100,000 times. It was founded by Azhar Iqubal, an alumni of IIT Delhi.