Indian social network app, Public raises a funding of USD 41 million

Date: 2021-03-25   Author: Pankaj Singh  Category: #news

Indian social network app, Public raises a funding of USD 41 million

  • This round of funding comes six months after securing a USD 35 million round, taking the startup’s valuation over USD 250 million

Public, a social network application that uses location data, has reportedly raised a funding of USD 41 million in a latest round. This is just six months after obtaining a funding of USD 35 million. The Indian startup is looking forward to expanding their presence in India, which is currently the second largest internet market of the world.

This new funding round has been initiated by A91 Partners, which has taken the company’s valuation to USD 250 million. The company, which also runs a popular new app InShorts, apparently stated that some of their current investors also took part in this investment round, but declined to identify them.

The Indian startup counts SIG, Tanglin Venture Partners and Lee Fixel’s Addition amongst their investors. However, the company has not named this new round of funding.

The founder and CEO of Public App, Azhar Iqubal, has reportedly expressed that the new app already has around 50 million subscribers and plans to expand its business in the global market eventually.

The app, which was launched in April 2019, has many high-profile individuals like politicians as users and many major companies like HDFC Bank, GSK and Amazon are using the app to increase their audience reach.

General Partner at A91 Partners, Gautam Mago, apparently stated that the Indian startup has consistently retained its users and has maintained excellent engagement metrics while upscaling. He further added that the company is delighted to work closely with Public founders to build an excellent company.

Public App is available in numerous major Indian languages like Marathi, Punjabi, Hindi, Telegu, Bengali, Odia, Kannada, Tamil, Assamese, Malayalam, Gujarati. This enables shop owners and local businesses to hire local people, drive e-commerce to reach local users, and media houses to reach out to local audiences.

Source Credits:

https://techcrunch.com/2021/03/23/indian-social-network-public-app-raises-41-million/



About Author


Pankaj Singh linkdin-boxtwitter

Pankaj Singh

Pankaj Singh Develops content for Algosonline, Market Size Forecasters, and a couple of other platforms. A Post Graduate in Management by qualification, he worked as an underwriter in the UK insurance domain before deciding to switch his field of profession. With exp...

Read More

Post Recommendents

Paytm Money unveils Pops messenger to offer user-specific insights

Author: Pankaj Singh

Paytm Money Limited, a fully-owned subsidiary of One97 Communications Ltd, has reportedly launched AI-based Pops messenger to offer user-specific insights on stocks, portfolios, and market analysis.

Flexible Dies Market 2022, Global Industry Size, Share, Analysis, Trends, Overview and Segmentation 2028

Author: Ashwin Naphade

The Global Flexible Dies Market Report includes a comprehensive analysis of the present industry status offering basic Flexible Dies overview and then goes into each and every detail.

.

Request a sample Report of Flexib...


Overhead Catenary Working Vehicles Market Size, Share, Statistics, Trends, Types, Applications, Analysis and Forecast, Global Industry Research 2028

Author: Ashwin Naphade

Global Overhead Catenary Working Vehicles Market analysis report speaks about the manufacturing process. Global Overhead Catenary Working Vehicles market report analyses the market growth, trends, overview & forecast to 2028.The report covers ...