Video sharing platform Chingari in talks to raise funds at 1 billion $ valuation
- ByStartupStory | April 18, 2022
The operator of one of India’s largest video-based social media platforms Chingari, Tech4Billion Media is all prepared to raise a fresh capital of $200 million at a valuation of $1 billion, informed two people acquainted with the matter.
Chingari, created in November 2018 by Sumit Ghosh, Deepak Salvi, Aditya Kothari and Biswatma Nayak, will raise the enormous capital in its Series B round of funding, preceded by the previous month’s successful listing of social crypto token “GARI” on various cryptocurrency exchanges. This will, cited the anonymous sources, boost the valuation of Chingari, paving its way to become one of India’s fastest growing start-up unicorns.
Chingari’s video sharing platform permits its 130 million users throughout India to download and upload the videos in over 15 languages and aids its users to shop for the commodities using real-time video commerce.
It raised its first Series A funding, led by OnMobile Global, of Rs. 95 Crores in April 2021, followed by an additional $15 million funding in an extended Series A round, led by Republic Capital in January 2022. However, it captured immense public attention, when GARI raised $40 million within 24 hours of its live sale on the Republic platform last November and gathered an additional $19 million from venture funds and individual investors all over the world.
Follow Startup Story
Related Posts
