Homegrown short-form video app Chingari has raised $13 mn in an investment round led by OnMobile, the telecom technology company focused on mobile entertainment. Many other prominent inveastors like 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), etc also participated.
Chingari plans to use this capital to enhance its content portfolio, hire talent, and accelerate its growing user base. As a part of the deal, 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 mn to over 100 mn 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."