Chingari secures $19M in Funding Round, to work with Solana Blockchain
Short-form video content platform Chingari raised $19 million in a funding round involving over 30 venture funds and individual investors. Some of these investors include Republic Crypto, Alameda Research, Galaxy Digital, Kraken, Blackpine, NGC, Coinfund, LD Capital, AU21, Cultur3 Capital, Afton Capital, CSP DAO Valor Equity Partners, and Solana Capital, among others.
The company plans on using the capital raised to develop ‘$Gari’, its cryptocurrency token, alongside Solana, the fastest-growing ecosystem in crypto technology. The acquired funds will be utilised in the testing of blockchain live, Chingari integration beta, and the upcoming $Gari sale.
Chingari is one of the country’s leading short form video content social media platforms. It has amassed over 78 million downloads and 30 million monthly active users.
Co-founder and CEO Sumit Ghosh stated, “While Crypto experiences a rapid expansion in India, $GARI is poised to make it mainstream. We are infusing the two, through robust strategies and incorporation of the most-promising industry advances.” He later added, “The result of this infusion is Social Tokens as the future of community platforms for creator monetisation. It is reaching new milestones as we speak.”
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