Short-video making app Chingari on Monday announced it has raised $15 million in a Series A extension round. The platform said it will use the funds to enhance technology, launch new features and augment the tech team.
The app is planning to soon launch its live-streaming, socio-commerce and audio chat features.
With over 110 million downloads, Chingari said it has witnessed a two-fold increase in its user base since April 2021. The short-video making app aims to take its user base to 200 million by the end of this year.
“This new funding will further strengthen our position and help us deliver an immersive user experience for our community,” said Sumit Ghosh, Co-founder and CEO, Chingari.
With 35 million monthly active users (MAUs), the app is aiming to further increase user engagement by strengething local content portfolio with more than 20 languages on the platform.
Republic Capital led the latest funding with participation from Onmobile, JPIN Venture Catalysts, Hill Harbour, Angellist, Venture Collective, Makan Family, Cowa Ventures, MVC Friends, Protocol Labs and other HNI family offices.
The platform recently launched a crypto token ‘$GARI’ to make content monetisation more mainstream in the country.