Total amount raised
$88.4 Millions
Latest funding date
2/1/2023
Location
Chingari has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The platform offers a dynamic short-video sharing experience, engaging users with its innovative features.
Keep reading to explore the intricacies of Chingari's fundraising journey and the investors backing this evolving platform.
What Is Chingari?
Chingari, founded in November 2018, is a short-video sharing mobile app based in Bangalore, Karnataka, India. The platform allows users to post and share short videos, images, and engage with interactive social features.
Founded by Aditya Kothari, Biswatma Nayak, Deepak Salvi, and Sumit Gosh, Chingari has grown rapidly. The app monetizes through in-app advertisements and offers a unique Gari Mining Program where users earn cryptocurrency by creating content.
With a team of 101-250 employees, Chingari continues to innovate in the social media space, connecting talented individuals across India.
How Much Funding Has Chingari Raised?
- Corporate Round
- Amount Raised: Not publicly disclosed
- Date: February 2023
- Lead Investors: Aptos
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing platform enhancements and expansion into new areas.
- Series A
- Amount Raised: ₹1.1B
- Date: January 2022
- Lead Investors: Republic Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Enhance app technology, launch new features, and expand the team.
- Seed Round
- Amount Raised: $25K
- Date: November 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial funding to support early-stage development.
- Initial Coin Offering
- Amount Raised: $40M
- Date: November 2021
- Lead Investors: Republic Crypto
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Raise capital through token sale and introduce $GARI token on global exchanges.
- Series A
- Amount Raised: $19M
- Date: October 2021
- Lead Investors: Galaxy Digital, Republic Crypto
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Enhance app technology and expand features.
- Initial Coin Offering
- Amount Raised: Not publicly disclosed
- Date: September 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Raise capital through token sale.
- Corporate Round
- Amount Raised: $13M
- Date: April 2021
- Lead Investors: OnMobile
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Support platform development and marketing initiatives.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: November 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Early-stage funding for development.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: August 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Support initial growth and development.
- Seed Round
- Amount Raised: ₹100M
- Date: July 2020
- Lead Investors: AngelList India, iSeed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Early-stage funding to support platform launch and growth.
Total Amount Raised: $72.025M
Current Valuation: Not publicly disclosed
Key Investors
- Aptos
- Details: Aptos is a blockchain technology company focused on building scalable and secure blockchain solutions.
- Investment Focus Areas: Blockchain, cryptocurrency, decentralized applications.
- Notable Investments: Not publicly disclosed.
- Republic Capital
- Details: Republic Capital is a venture capital firm that invests in early-stage startups, particularly in the technology sector.
- Investment Focus Areas: Technology, blockchain, cryptocurrency.
- Notable Investments: Not publicly disclosed.
- Republic Crypto
- Details: Republic Crypto is a division of Republic Capital that focuses on investments in the cryptocurrency and blockchain space.
- Investment Focus Areas: Cryptocurrency, blockchain, decentralized finance.
- Notable Investments: Not publicly disclosed.
- Galaxy Digital
- Details: Galaxy Digital is a diversified financial services and investment management firm in the digital asset, cryptocurrency, and blockchain technology sectors.
- Investment Focus Areas: Digital assets, cryptocurrency, blockchain technology.
- Notable Investments: Not publicly disclosed.
- OnMobile
- Details: OnMobile is a global leader in mobile entertainment, providing value-added services to mobile operators and consumers.
- Investment Focus Areas: Mobile entertainment, digital content, value-added services.
- Notable Investments: Not publicly disclosed.
What's Next for Chingari?
Chingari's future looks promising with plans to enhance its app technology, launch new features, and expand its team, particularly in AI/ML. The platform aims to introduce live-streaming, socio-commerce, and audio chat features, which could significantly boost user engagement and attract brand collaborations. With $15 million raised in a recent Series A extension round, Chingari is well-positioned to capitalize on these opportunities.
Future fundraising efforts may focus on further technological enhancements and marketing initiatives, leveraging the growing interest in blockchain and cryptocurrency. However, Chingari will need to navigate challenges such as integrating $GARI tokens, competing with other platforms, and maintaining user engagement. The platform's ability to scale and adapt will be crucial in overcoming these hurdles.
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