Chingari, India’s No. 1 short-video app, announced completing a $15 million series A subsequent round. The app intends to utilise this fresh amount of funding to improve and integrate new in-app features, develop the backend technology team, and expand its marketing operations in 2022.
Onmobile, JPIN Venture Catalysts, Hill Harbour, Angellist, Venture Collective, Makan Family, Cowa Ventures, MVC Friends, Protocol Labs, and other HNI family offices participated in the fundraising by Republic Capital.
This year, Chingari intends to accelerate its company expansion. The majority of the funding will improve the app’s technology, launch new features, and expand the backend tech team by hiring the best expertise in AI and ML to improve Chingari’s user experience further.
Another central area of attention is to expand marketing activities to further deepen the brand’s reach into the roots of Bharat by making it a favourite among Tier 3 & 4 audiences as well.
With new technological advancements, the app plans to launch its Live-streaming, Socio-commerce, and Audio chat features soon, which will assist creators in increasing their engagement rates with viewers and also open the doors for top brands and companies to collaborate with the app and its creators, ushering in the next significant phase of the creator economy.
In addition, Chingari’s $GARI is about to create history by being listed on six worldwide exchange platforms: FTX, Huobi, Kucoin, OKEX, Gate.IO, and MEXC Global.
In the presence of its brand ambassador Salman Khan, chingari just introduced $GARI- India’s first-ever crypto-token. $Gari’s goal is to make content monetisation more common in India.
Mr Sumit Ghosh, Co-founder & CEO of Chingari App, commented on the development, saying, “Chingari is leading the Indian market in the short-video platforms area.” This additional financing will help us improve our position and provide an engaging user experience for our community.
It is fascinating to have reputable new names supporting us in the market, while our old investors have also volunteered to expand their stakes and assist us in reaching fresh heights.
With over 110 million app downloads, Chingari’s user base has more than doubled since April 2021. With over 35 million monthly active users (MAUs), the app is now exploring new methods to expand user interaction on the platform from across India.
The No. 1 short-video app in India aims to increase its user base to 200 million or more by the end of 2022. Given the increased demand for regional content in India, Chingari intends to expand the platform’s local content offering by deploying 20+ languages.
The app’s marketing strategies will promote the brand and entice inventive and skilled producers from the country’s most distant regions to create exciting content for consumers.