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Chingari funding

Short-form video app Chingari has raised $13 million in an investment round led by OnMobile, the telecom technology company directed on mobile entertainment.

The other investors who took part in the round include India TV (Rajat Sharma), JPIN Venture Catalysts Ltd, Republic Labs US, Astarc Ventures, White Star Capital, ProfitBoard Ventures, Raghunandan G of Zolve (Co-Founder of TaxiForSure), and some big family office funds from the UK.

In 2020, Chingari had raised $1.4 million from various angel investors.

Chingari intends to utilize this capital to improve its content portfolio, recruit talent, and boost its expanding user base.

As part of this funding round, OnMobile will integrate and distribute its direct-to-consumer gaming platform, ONMO, on the Chingari app and partner on other mobile product integrations.

Chingari is also looking to increase its user base from the current level of 56 million to more than 100 million with this funding round.

Commenting on the new funding, Sumit Ghosh, Co-founder & CEO of Chingari, said, “We could not have hoped for a better partner than OnMobile to help Chingari embody its vision and become a content super media app for Bharat, and help engage a billion Indians. With our visions aligned, this partnership promises to be a winning collaboration.”

Speaking on the development, François-Charles Sirois, Executive Chairman of OnMobile, said, “We are very excited about this investment and partnership bringing millions of users to the new ONMO gaming service while providing immediate business value and increased user reach for both companies.”

The Chingari app was launched in 2018 and began as a short-form video app. It has now positioned itself as a content media super app for Bharat which also involves social video commerce.

Ever since the ban of TikTok app in June 2020, there has been a rise in the number of domestic players who have entered the short video segment like Josh from DailyHunt, InMobi Roposo, Mitron, Bolo Indya among others.

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