Bangalore Based Short Form Video App Chingari Raises $13 Million Led By Onmobile
The round also saw the participation of Republic Labs US, Astarc Ventures, White Star Capital, India TV (Rajat Sharma), JPIN Venture Catalysts Ltd, ProfitBoard Ventures, Raghunandan G of Zolve (Co-Founder of TaxiForSure), and some large family office funds from the UK.
Chingari is an Indian video-sharing social networking service wherein people record and share short video clips. The app is available in 20 languages including English, Hindi, Bangla, Gujarati, Marathi, Kannada, Odia, Punjabi, Malayalam, Tamil, and Telugu.
It is a social entertainment application, founded by Sumit Ghosh, Biswatma Nayak, a mechanical engineer turned programmer, and Deepak Salvi a media veteran. Chingari app was rebranded and redesigned in June 2020.
Chingari, which was launched in November 2018, gained a lot of popularity in India after TikTok was banned by the government. It has been downloaded more than 1 million times within just 15 days of launch.
In 2020, Chingari had raised $1.4 million from several angel investors. This investment of $13 million will allow Chingari to accelerate its growth from 56 million users to over 100 million users.
The company plans to use this capital to enhance its content portfolio, hire talent, and accelerate its growing 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 collaborate on other mobile product integrations.
“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." says, Sumit Ghosh, Co-founder & CEO of Chingari
On the investment, 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.”