VerSe Innovation, the Bengaluru-based AI-powered local language technology company behind popular platforms Dailyhunt and Josh, has appointed Prakashan Manikoth as its new Group Chief Financial Officer (Group CFO).
The announcement marks a significant leadership move as the company accelerates its journey toward profitability and prepares for a potential Initial Public Offering (IPO). Manikoth will play a crucial role in shaping VerSe’s financial and strategic direction at this pivotal stage of growth.
In his new role, Manikoth will lead VerSe Innovation’s global finance operations with a clear mandate—driving IPO preparedness and enabling financial transformation. His focus areas include financial planning, investor relations, capital allocation, mergers and acquisitions, and risk management.
A key part of his role will involve establishing stronger governance standards, improving compliance systems, and ensuring transparent and disciplined financial reporting. His leadership will be central to positioning VerSe Innovation as a financially sound and globally competitive AI-led company.
Founders Welcome Manikoth
Welcoming the appointment, Umang Bedi, Co-Founder of VerSe Innovation, said that Prakashan’s global financial experience will strengthen the company’s long-term strategy and governance standards.
“His deep domain expertise across global tech enterprises makes him the ideal partner to guide our financial roadmap as we move toward becoming India’s first global AI-led technology powerhouse,” said Bedi. “His leadership will be vital as we scale responsibly and prepare for our IPO journey.”
With more than 25 years of experience, Prakashan Manikoth brings a wealth of expertise from some of India’s most reputed companies. He spent nearly two decades with the TATA Group (including TCS and Tata Teleservices) and Wipro, leading finance for emerging markets and key technology divisions.
He has also served as the CFO of SaaS unicorn LeadSquared, where he helped the company scale globally and maintain sustained profitability. A Chartered Accountant and alumnus of the Indian Institute of Management Calcutta (IIM-C), Manikoth is known for combining strategic vision with financial discipline.
AI Technology Platforms Grow
VerSe Innovation is recognized as one of India’s top AI technology platforms, driving local-language content discovery and short-form video engagement through its apps Dailyhunt, Josh, and NexVerse.ai.
These platforms leverage AI and machine learning to understand regional preferences, personalize recommendations, and create immersive content experiences for millions of users across Bharat. This AI-first approach has been a key factor in the company’s growth and ability to compete globally in the creator economy.
Manikoth’s appointment comes at a time when VerSe Innovation is showing robust financial momentum. In FY25, the company reported 88% year-on-year revenue growth, reaching ₹2,071 crore while successfully reducing its operating burn by 20%.
The company expects to achieve group-level profitability in the second half of the current fiscal year, driven by its efficient monetization strategy, expanding user base, and AI-led innovations.
Driving Sustainable Growth
Expressing his excitement about joining VerSe Innovation, Prakashan Manikoth said, “VerSe is redefining how Bharat engages with content, creators, and commerce—powered by cutting-edge AI and bold ambition. I look forward to working closely with the leadership team to drive sustainable enterprise value creation and shape the company’s global financial trajectory.”
Industry experts see his arrival as a strong signal of VerSe’s seriousness about governance, scalability, and long-term success. As the company continues to build its AI-driven ecosystem, Manikoth’s financial leadership is expected to help VerSe transition seamlessly from a high-growth digital enterprise to a globally recognized public company.
With an expanding suite of platforms, a growing global presence, and renewed financial discipline, VerSe Innovation is poised for its next big leap. The combination of technological innovation, profitability focus, and strategic leadership places it on track to emerge as one of India’s most influential AI-led consumer tech companies.
As the company moves toward its IPO ambitions, Prakashan Manikoth’s appointment is not just a leadership change—it represents VerSe’s intent to build a strong, transparent, and globally trusted financial foundation for the digital future.
