Chingari raises $1.3 million in seed funding, plans to hire more talent
Indian social company Chingari plans to make the platform more engaging and ramp up product development.
Internet startup Chingari has raised $1.3 million seed funding from the likes of AngelList India, iSeed, Village Global, LogX Ventures and others.
The round was led by venture capitalists, including AngelList India, Utsav Somani's iSeed, Village Global, LogX Ventures, and Jasminder Singh Gulati of NowFloats.
Chingari said that it plans to use the funding to hire more talent to accelerate product development. It also plans to utilise the money to ramp up the platform and make it more engaging.
“We are happy to have amazing investors like AngelList India, Utsav Somani's iSeed, Village Global and its amazing network of entrepreneurs and global leaders, LogX Ventures and some reputed angels,” said Sumit Ghosh, Co-founder and CEO, Chingari App, said in a release.
Congratulations to @sumitgh85 and the @Chingari_IN team! Excited for what's ahead! https://t.co/qBCjLz8ZLI— Village Global (@villageglobal) August 7, 2020
Chingari's latest funding comes shortly after the company won the Indian government's AtmaNirbhar Bharat App Innovation Challenge's social category. Chingari was competing with other Indian social platforms Mitron, Sharechat and Roposo.
Chingari is one of the top Indian applications to have made gains following the ban on TikTok in India. The company now has 25 million users and over 3 million active daily users.
In an earlier interview with Hindustan Times, Ghosh had said that the company had shortened its roadmap to three months from six months following the ban on TikTok. It is also looking to expand its content creators ecosystem.
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