VerSe Innovation Appoints Prakashan Manikoth as Group CFO

VerSe Innovation, the parent organisation 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 manage global finance, strategic planning, investor relations, M&A, and capital allocation. He will also take the lead in preparing for VerSe’s IPO, with an emphasis on financial discipline, governance, and risk management.

Prakashan Manikoth’s Extensive Experience

Manikoth brings over 25 years of experience from his roles at Wipro, TCS, Tata Teleservices, and LeadSquared. At Wipro, he oversaw finance for global operations, while at TCS, he directed finance in the emerging markets and core banking divisions. Prior to joining VerSe, he was CFO of LeadSquared, where he played a pivotal role in enhancing global operations.

VerSe’s AI-Powered Platform

VerSe operates a technology platform driven by AI that provides personalised content to more than 350 million users through Dailyhunt. Additionally, it supports creators via Josh, which stands as India’s leading short video application. The company’s offerings also include NexVerse.ai, Dailyhunt Premium, and VerSe Collab, supplying AI-powered digital content and creator tools.

Financial Growth and Future Expectations

Recent reports indicate that VerSe Innovation’s operating revenue surged to Rs 1,930 crore in FY25, up from Rs 1,029 crore in FY24. The company forecasts reaching breakeven and achieving group-level profitability in the latter half of FY25.

Investment Backing

VerSe has garnered support from notable investors, including CPP Investments, Ontario Teachers’ Pension Plan, Qatar Investment Authority, Carlyle Group, Baillie Gifford, Goldman Sachs, and Peak XV. To date, the Bengaluru-based enterprise has secured over $1.5 billion in funding and was valued at $5 billion during its most recent fundraising round.