Chingari, the homegrown short-form video app, has now secured $13 million in an investment funding round backed by the OnMobile.
The other investors who participated in the funding round include the 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.
In the year 2020, Chingari has now secured $1.4 million from the various angel investors.
Chingari also has plans to use the new funds to enhance its content portfolio, accelerate its growing user base and hire new talent.
As a 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.
Chingari also expects to grow its user base from the current level of 56 million to more than 100 million with this funding round.
On the funding received, 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.”
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.”