Total amount raised
$88.4 Million
Latest funding date
2/1/2023
Location
Chingari has successfully raised funding over seven rounds, with the latest being a Corporate Round led by Aptos. The platform continues to attract significant interest from investors, including 46 backers such as Aptos and Hill Harbour.
Keep reading to explore the intricacies of Chingari's fundraising journey and the investors backing this innovative platform.
What Is Chingari?
Chingari is a short-video sharing mobile app based in Bangalore, Karnataka, India. The platform operates in various sectors, including apps, media and entertainment, mobile, social, and video.
Founded with the aim of providing a dynamic and engaging user experience, Chingari has grown to employ between 101-250 people. The app allows users to create and share short videos, similar to platforms like TikTok, and has successfully raised funding through multiple rounds.
How Much Funding Has Chingari Raised?
- Seed Round
- Amount Raised: INR 100,000,000
- Date: July 2020
- Lead Investors: AngelList India, iSeed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the platform's development and initial user acquisition.
- Seed Round
- Date: August 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the app and expand its user base.
- Corporate Round
- Amount Raised: USD 13,000,000
- Date: April 2021
- Lead Investors: OnMobile
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the app's technology and expand its features.
- Series A
- Amount Raised: USD 19,000,000
- Date: October 2021
- Lead Investors: Galaxy Digital, Republic Crypto
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop blockchain-based features and expand the platform's capabilities.
- Initial Coin Offering
- Amount Raised: USD 40,000,000
- Date: November 2021
- Lead Investors: Republic Crypto
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To launch the $GARI token and integrate it into the platform.
- Series A
- Amount Raised: INR 1,120,000,000
- Date: January 2022
- Lead Investors: Republic Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the app's technology, launch new features, and strengthen the back-end technology team.
- Corporate Round
- Date: February 2023
- Lead Investors: Aptos
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue expanding the platform and enhancing user engagement.
Total Amount Raised: USD 72,000,000
Current Valuation: Not publicly disclosed
Key Investors
- Aptos
- Details: Aptos is a prominent investor known for leading multiple corporate rounds for Chingari. They have shown consistent support for the platform's growth and development.
- Investment Focus Areas: Technology, startups, innovation.
- Notable Investments: Chingari (multiple corporate rounds).
- Republic Capital
- Details: Republic Capital led the Series A extension round for Chingari, showcasing their commitment to supporting innovative startups. They are a well-known venture capital firm with a focus on high-growth potential companies.
- Investment Focus Areas: Technology, startups, blockchain.
- Notable Investments: Chingari, other high-growth startups.
- OnMobile
- Details: OnMobile participated in multiple funding rounds for Chingari, including leading a pre-Series A round. They are a global leader in mobile entertainment.
- Investment Focus Areas: Mobile technology, digital content, entertainment.
- Notable Investments: Chingari, other mobile-based platforms.
- Republic Crypto
- Details: Republic Crypto led the Initial Coin Offering (ICO) for Chingari, helping to launch the $GARI token. They specialize in blockchain and cryptocurrency investments.
- Investment Focus Areas: Blockchain, cryptocurrency, fintech.
- Notable Investments: Chingari, other blockchain projects.
- Galaxy Digital
- Details: Galaxy Digital was a key investor in Chingari's Series A round. They are a diversified financial services firm dedicated to the digital asset, cryptocurrency, and blockchain technology sectors.
- Investment Focus Areas: Digital assets, cryptocurrency, blockchain technology.
- Notable Investments: Chingari, other digital asset ventures.
What's Next for Chingari?
Chingari is poised for significant growth, with opportunities to enhance its app technology, launch new features, and expand its user base. The platform's focus on integrating AI/ML and blockchain technology, along with new features like live-streaming and socio-commerce, positions it well to attract brand collaborations and increase user engagement.
Future fundraising opportunities are likely, given the platform's ambitious plans and previous successful funding rounds. The introduction of the $GARI token and its listing on global exchanges could also open new avenues for blockchain-based fundraising. However, Chingari will need to navigate challenges such as competition from other short-video platforms and regulatory hurdles related to cryptocurrency.
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