Lee Fixel’s India comeback – former Tiger Global head leads a $35 million round in Inshorts for its social media app Public

BCCL
  • Lee Fixel is leading a $35 million round in Inshorts through his recently launched investment firm Addition.
  • Inshorts has raised the latest funding from Addition, SIG Global and Tanglin Venture Partners, and the investment is for their social media app – Public.
  • Public, available in various Indian languages offers its users content, updates on jobs, classifieds and more.
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Lee Fixel, the former Tiger Global executive, who has led some of the firm’s best bets, is back with an investment in India. Fixel is leading a $35 million round in Inshorts, according to an ET report. Fixel had invested in Inshorts in 2015 through Tiger Global.

The latest investment comes from his newly launched fund Addition. Fixel has raised $1.3 billion for his fund Addition through which he will invest in multi-stage startups, he told Forbes in August.

In India, Fixel is credited for Tiger Global’s biggest investment here – Flipkart and for being an investor who didn’t wait around to hand out cheques. Tiger Global made $3.5 billion from the Walmart-Flipkart deal.

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Inshorts funds will go to its social media app Public

Inshorts has raised the latest funding from Addition, SIG Global and Tanglin Venture Partners, and the investment is for their social media app – Public. "With more than 50 million active users and over one 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,” said Azhar Iqubal, Founder and CEO, Public App.

Public, available in Hindi, Bengali, Punjabi, Telugu, Tamil, Kannada, Malayalam, Odia, Assamese, Gujarati and Marathi, offers its users content, updates on jobs, classifieds and more.

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"The plan is to utilise the funding towards rapid scaling up of tech infrastructure, content offerings and employee base to further speed up the growth and continue improving on retention and engagement," said the company.

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