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Miguel Cordon · · 1 min readLee Fixel’s Addition leads $35m injection in India’s Inshorts
Other backers in the round include SIG Global and Tanglin Venture Partners, said Inshorts CEO and co-founder Azhar Iqbal. The exec also claimed that the company is currently profitable.
Founded in 2013, the news app provides its users with select news from national and international sources in 60 words or less. It also operates Public, a location-based social media network that gives its users a platform to connect with their local communities.
“With more than 50 million active users and over 1 million videos being created every month on the app, Public aims to connect the local communities of Bharat and become the one-stop solution for all their local needs,” Iqbal said.
Fixel’s investment comes as Tiger Global ramps up its investments in India, with Scott Shleifer, who joined Tiger Global in 2019, succeeding Fixel at the helm.
More than just Inshorts, Fixel’s Addition has invested in cross-border payment firm dLocal and mental health startup Lyra Health, among others.
Editing by Jaclyn Teng
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