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VerSe Innovation appoints Prakashan Manikoth as Group CFO

EntrackrEntrackr · 2d ago
VerSe Innovation appoints Prakashan Manikoth as Group CFO
Medial

VerSe Innovation appoints Prakashan Manikoth as Group CFO VerSe Innovation, the parent company of Dailyhunt, Josh, NexVerse.ai, VerSe Collab, Magzter, and ValueLeaf, has appointed Prakashan Manikoth as its Group Chief Financial Officer (Group CFO). Based in Bengaluru, Manikoth will oversee global finance, strategic planning, investor relations, M&A, and capital allocation. He will also lead VerSe’s IPO preparation, focusing on financial discipline, governance, and risk management. Manikoth has more than 25 years of experience across Wipro, TCS, Tata Teleservices, and LeadSquared. At Wipro, he managed finance for global operations, and at TCS, he led finance for its emerging markets and core banking business units. Before joining VerSe, he served as CFO of LeadSquared, where he helped expand global operations. VerSe operates an AI-powered local language technology platform that delivers personalized content to over 350 million users through Dailyhunt, and supports creators through Josh, India’s leading short video app. Its portfolio also includes NexVerse.ai, Dailyhunt Premium, and VerSe Collab, which offer AI-driven digital content and creator tools. As per TheKredible, VerSe Innovation’s operating revenue jumped to Rs 1,930 crore in FY25 from Rs 1,029 crore in FY24. The company expects to breakeven and achieve group-level profitability in the second half of FY25. VerSe is backed by investors such as CPP Investments, Ontario Teachers’ Pension Plan, Qatar Investment Authority, Carlyle Group, Baillie Gifford, Goldman Sachs, and Peak XV. As of now, the Bengaluru-based company has raised over $1.5 billion and was valued at $5 billion in its last round.

AI powering VerSe Innovation's growth across digital media landscape

EntrackrEntrackr · 6m ago
AI powering VerSe Innovation's growth across digital media landscape
Medial

News All Stories AI powering VerSe Innovation's growth across digital media landscape VerSe Innovation’s AI ecosystem is reshaping content, advertising, and creator platforms, led by NexVerse.ai — its AI-driven AdTech engine boosting ad efficiency and brand impact at scale. Kunal Manchanada 26 Apr 2025 16:35 IST Follow Us New Update VerSe Innovation reaches millions of users across India’s linguistic landscape through Dailyhunt, Josh and Oneindia. The company has integrated AI-driven systems across the content ecosystem, including recommendation engines at Bharat scale and generative AI applications to improve accessibility, engagement, and monetization. VerSe Innovation’s AI ecosystem is driving transformation across content, advertising, and creator-led platforms. At the forefront is NexVerse.ai, VerSe’s AI-powered programmatic AdTech engine, which is already enhancing ad efficiency and brand outcomes at scale. “We leverage deep learning models to analyze real-time user interactions, optimizing ad selection, placement, and pricing. Our AI-powered content-ad matching system ensures that s reach the right audience, significantly boosting engagement and performance,” said Umang Bedi, co-founder and CEO of Verse Innovation. Beyond advertising, VerSe’s AI-driven content intelligence is revolutionizing digital news consumption. Dailyhunt Premium, a subscription-first premium content platform powered by Magzter, caters to India’s evolving digital readership. At Magzter, we use visual AI models to extract articles from several of its newspaper and magazine content and convert them into ezRead, a mobile-friendly format,” outlined Bedi. For Dailyhunt’s Xpresso, its short news format, VerSe leverages multimodal generative AI to automate content understanding and creation. According to Bedi, these AI systems assist both internal teams and external creators in identifying, curating, and generating short news cards, web stories, and other bite-sized formats that are timely, relevant, and engaging. “These innovations not only enhance user engagement but also elevate the overall content experience,” he said. VerSe’s AI capabilities also extend to content creation tools such as WISE, an AI-driven authoring and marketing platform that assists with headline generation, AI-based imagery, and social media content creation. VerSe is also expanding into AI-powered audio, video, and conversational formats. Josh Audio Stories offer immersive, narrative-driven content in multiple Indian languages across genres such as drama, romance, thrillers, horror, and fantasy. “AI plays a key role in scripting, voice modulation, and personalization, enabling the creation of high-quality audio experiences at scale,” added Bedi. The Dream Call feature enables users to engage in live, personalized conversations with creators. AI plays a crucial role in enhancing the experience by helping screen and match users with relevant creators, ensuring smoother interactions and maintaining quality and safety standards. This offering has quickly gained traction and is emerging as a significant revenue driver. Finally, VerSe Collab serves as a full-stack influencer marketplace, enabling India’s top consumer brands to manage creator campaigns with precision and scale. It offers access to a self-serve dashboard, connects brands to a network of over 100,000 creators and celebrities, and leverages AI to streamline campaign ideation, rollout strategies, and performance tracking—making it a powerful engine for influencer-led marketing in India. “By embedding intelligent systems across its platforms, we’re not only enhancing user experiences but also creating sustainable value for creators, advertisers, and consumers alike. Our expansion into automated content generation and conversational AI signals a broader shift toward scalable, data-driven media operations,” emphasized Bedi. As VerSe refines its AI capabilities, it looks to strengthen its role in India’s digital ecosystem, ensuring real-time, relevant content delivery across languages and user demographics. With continuous advancements, the company is positioning itself at the forefront of AI-powered media innovation, shaping the future of digital information and interaction.

VerSe Innovation revenue jumps 88% in FY25; eyes profitability in H2 FY26

EntrackrEntrackr · 29d ago
VerSe Innovation revenue jumps 88% in FY25; eyes profitability in H2 FY26
Medial

VerSe Innovation, the parent company of Dailyhunt and short-video app Josh, reported improved financial performance for the fiscal year ending March 2025. According to the firm’s press release, operating revenue grew 88% during the fiscal year, while EBITDA burn reduced by 20%. VerSe Innovation’s operating revenue jumped to Rs 1,930 crore in FY25 from Rs 1,029 crore in FY24. Total revenue, including other income, stood at Rs 2,071 crore during the year, representing a 64% year-on-year growth. On a standalone basis, excluding acquisitions, the main firm’s revenue grew 33% to Rs 1,373 crore in FY25. VerSe reduced its EBITDA burn (excluding non-cash expenses) by 20% to Rs 738 crore in FY25 against Rs 920 crore in FY24. Its EBITDA margin improved to –38% in FY25 compared to -89% in FY24. Operating expenses also fell to 61% in FY25 from 77% in FY24. VerSe aims for EBITDA positivity and profitability at the group-level in the second half of FY26 through AI-led monetization, subscription growth, community engagement, and strategic acquisitions. The company plans to integrate acquisitions like Magzter and ValueLeaf to enhance monetization. VerSe serves over 350 million users and is backed by investors such as CPP Investments, OTPP, QIA, Carlyle, Google, and Microsoft. As India’s first unicorn in the local language content space, VerSe’s path to profitability by H2 FY26 is closely watched, with potential IPO plans in future years.

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