Bolo Live raises over $ 5.6 Mn in funding led by UAE-based family office
- ByStartupStory | December 28, 2022
Bolo Live, a social media platform, has raised Rs 46 crore ($5.6 million) in fresh funding led by a UAE-based family office.
According to the company’s regulatory filings with the Registrar of Companies (RoC), the board of directors of Bolo Live passed a special resolution to issue 5,709 CCPS at an issue price of Rs 80,575 each in order to raise Rs 46 crore or $5.6 million.
The family office led the investment with Rs 39.8 crore, while IA fund, AL trust, QED Innovations, Orios Fund, and SOSV participated with Rs 6.2 crore cumulatively. The company raised $2.4 million in its first institutional round led by Orios in January.
Bolo Live is a social live streaming platform that allows content creators to monetize their work through virtual gifting. According to the company, over 1 lakh content creators monetize on the platform. It is based in Gurgaon. This is the company’s second round of funding this year.
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