News in Shorts today said it has raised Rs 25 crore from Tiger Global, with participation from Rebright Partners of Japan and existing investors Sachin and Binny Bansal.
News In Shorts is an app that provides news in less than 60 words and is getting strong traction from the increasingly mobile youth, which have already received more than 100,000 downloads.
The application is the brainchild of Azhar Iqubal and Anunay Arunav of IIT Delhi, Deepit Purkayastha of IIT KGP.
"We aim to own the mobile content space. Thousands of different forms - textual, video, audio - of content are being generated everyday. We intend to make all of this content easily consumable on mobile devices," News In Shorts Co-Founder and CEO Azhar Iqubal said adding that "the funds will be used to achieve that goal".
The TLABS incubatee company had raised its seed round in June 2014, led by angel investors and mentors Ankush Nijhawan, Gaurav Bhatnagar and Manish Dhingra, with participation from Flipkart Co-founders Sachin and Binny Bansal, as well as Times Internet.
"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.
"We admire News In Shorts for its dedication to create disruption in the news space. Clutter free and immensely fast, News In Shorts gains the faith of a user in 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," Sachin Bansal said.
