VerSe Innovation Appoints Prakashan Manikoth as Group CFO to Drive Strategic Growth, IPO Readiness and Global Expansion

VerSe Innovation, India’s leading AI-powered local language technology company and parent to Dailyhunt, Josh, NexVerse.ai, VerSe Collab, Magzter and ValueLeaf, has announced the appointment of Prakashan Manikoth as its Group Chief Financial Officer (Group CFO).

Based in Bengaluru, Prakashan will lead VerSe Innovation’s global finance function, focusing on strategic financial planning, investor relations, mergers and acquisitions, capital allocation, and long-term business strategy. He will also play a key role in strengthening risk management, compliance and governance frameworks, while steering the company’s IPO preparedness with robust financial discipline and transparent reporting.

With over 25 years of financial leadership experience, Prakashan brings a strong track record across some of India’s most respected organisations. He has spent nearly two decades at Wipro and the Tata Group (TCS and Tata Teleservices), serving as Head of Finance for TCS’s Emerging Market Business and TCS BaNCS, as well as Finance Head for Wipro’s Global Operations and Delivery divisions. Most recently, he was the CFO of LeadSquared, a high-growth SaaS unicorn, where he played a pivotal role in scaling global operations and driving sustained growth.

A Chartered Accountant and alumnus of the Indian Institute of Management, Calcutta (IIM-C), Prakashan combines financial expertise with strategic acumen, qualities that have shaped his leadership across both high-growth and large-scale enterprises.

“We are delighted to welcome Prakashan to VerSe Innovation’s leadership team. His deep domain expertise and proven experience across global technology enterprises make him the perfect partner to guide our financial strategy as we accelerate toward becoming India’s first global AI-led technology powerhouse. His leadership will be critical as we scale responsibly, deepen our governance standards, and gear up for our IPO journey,” Umang Bedi, Co-Founder, VerSe Innovation.

“I am thrilled to join VerSe Innovation at such a transformative time in its journey. VerSe is redefining how Bharat engages with content, creators, and commerce—powered by cutting-edge AI and bold ambition. I look forward to partnering with the founders and leadership team to amplify impact, driving sustainable enterprise value creation for all stakeholders, and help shape the company’s global financial trajectory,” Prakashan Manikoth, Group CFO, VerSe Innovation.

In FY25, VerSe Innovation recorded 88% revenue growth, reaching INR 2,071 crore, while reducing burn by 20%. The company is poised to achieve group-level profitability in the second half of the fiscal year, supported by its robust AI-first product portfolio that includes NexVerse.ai, Dailyhunt Premium, Josh and VerSe Collab.

VerSe Innovation Reports Strong FY25 Growth, Targets Profitability in FY26

VerSe Innovation, parent of Dailyhunt and Josh, saw FY25 operating revenue rise 88% to INR 1,930 crore. EBITDA burn fell 20%, margins improved, and the company targets profitability in H2 FY26 through AI tools, subscriptions, and strategic acquisitions.

StartupTalky- Business News, Insights and StoriesApoorva Bajj