American
technology giant Google has helped in creating India’s two youngest
technology unicorns concerned with feeding personalised news and entertainment
to the world’s fastest-growing smartphone population, Bloomberg reported.

The unicorn companies are Glance, which provides news and sports scores to phone-lock screens and VerSe Innovation Pvt is the studio behind the popular Dailyhunt news site and TikTok-like Josh app.

“In the last two years alone, 100 million new internet users have come online from rural India,” Google vice president Caesar Sengupta wrote in a blog post on Tuesday, announcing its investment in VerSe.

“But many of these internet users continue to have trouble finding content to read or services they can use confidently, in their own language.” she added.

As per a Bloomberg report, Glance is reported to have reached a valuation of more than $1 billion after completing a
funding round, while VerSe Innovation Pvt said it passed that
threshold after winning more than $100 million from Alphabet Inc.’s search
giant and Microsoft Corp.

Business
experts across the world believes India to be an emerging centre for the new
business and industrial foundations and many American internet companies, including
Google are putting their money onto Indian soil.

From
Amazon.com Inc. to Facebook Inc., all the giant corporate are hoping to get in
on the ground floor of what they envision as an online commerce boom that could
eventually create a market to rival the world’s No. 2 economy.

Earlier this year, Mukesh Ambani’s Reliance also announced collaboration with Google, where the latter would invest $4.5 billion and will cooperate on technology initiatives, including the development of affordable mobile phones.

Apart from this, Google has also said that they will be teaming up with smaller outfits to target more local audiences.