The company previously raised $1.5 million from New York-based Media Development Investment Fund (MDIF). Josh Talks app has reported over 3.2 million downloads since its launch and has over 200,000 paid subscribers from tier-II and -III cities of India. The organisation will utilise the funds to refine its product with the larger goal of making Josh Skills the preferred social learning platform for
. Further, the organisation will experiment with new product lines catering to the aspirations of this user segment.
“Over the last two years, we have doubled down on two things — growing our distribution across 10 languages and creating a product that monetises this distribution network. We have been able to understand the aspirations of young India and have built one of the largest online communities. With the new capital, our goal is to expand our offerings, strengthen our executive team and take Josh to every household in India,” said Supriya Paul, CEO & Co-founder, Josh Talks.
Last year, the company launched new content categories like Josh Money (focused on financial literacy for tier-II & -III users), Josh Maati (highlights stories of agriculture and innovation from the villages of India) and Josh Aasha (covering all topics relevant to women).
Talking about its expansion plans, Paul said a part of the capital would be deployed to identify more educational categories that are relevant to the users. “We will be going deeper into every district and dialect of India, starting with the launch of new channels in a cluster of districts in Bihar and Josh Bhojpuri next quarter,” she said.
Part of the new funds would be used for product expansion.
The co-founder said they were conducting market research to understand the needs and aspirations of users regarding “education (college admissions, government job test prep, studying abroad
Rema Subramanian, Co-founder & Managing Partner, Ankur Capital, said, “The Josh team has always created solutions through first-principles reasoning. Whether it was with Josh Talks where they built it, language by language, focusing on the aspirations of the user segment, or now with Josh Skills, where the focus is on emulating an offline college experience. Their obsession with their users and solving their problems is what inspired us to back them.”
Presenting numbers, Paul said Josh Talks is aiming to clock a revenue of $4 million this financial year. Last financial year, the company earned a revenue of $1.5 million. It is also targeting to reach 35 million subscribers/followers and increase its monthly viewership to 195 million across all channels by March 2023.