September 30, 2020 | technology | No Comments
Inshorts, which operates a popular news aggregator app in India, has raised $35 million in a new financing round led by Lee Fixel’s Addition as the Indian startup looks to scale its adjacent, social network platform.
For Fixel, who wrote several high-profile checks to Indian firms while running Tiger Global, InShorts is the first Indian startup he is backing from his new VC firm. Fixel, who also invested in InShorts when he was at Tiger Global, has backed about six startups through Addition including New York Area-headquartered Odeko, which offers ordering and supply chain tools to cafes, Synk, which develops tools used to identify vulnerabilities, and dLocal, which operates a cross-border payment processor to connect global merchants to emerging markets.
SIG Global and Tanglin Venture Partners, also participated in Inshorts’ new round, which values the startup at about $125 million, a person familiar with the matter told TechCrunch.