New Delhi: Home grown short video-sharing app Chingari which came into prominence as a TikTok alternative amid anti-China sentiment in the country has raised 1.3 million (around Rs 10 crore) in a seed round led by AngelList India, Utsav Somanis iSeed, Village Global, LogX Ventures, and Jasminder Singh Gulati of NowFloats.
The funding will be used to hire more talent to accelerate product development, ramp up the platform and make it more engaging and consumer focussed, and engage a larger consumer, the company said in a statement on Sunday.
We’re delighted that investors saw the immense potential in our vision and chose to join the Chingari journey, said Sumit Ghosh, Co-founder and CEO, Chingari App.
Chingari said it has a 25-million strong user base and records more than three million active daily users.
The homegrown social app claimed that it pays its content creators a 30 per cent cut in what it makes from brands and ensures transparency and data privacy.
Chingari recently emerged as the top winner in the Socialcategory of AatmaNirbhar Bharat App Innovation Challenge which was launched by Prime Minister Narendra Modi on July 4 with the aim of showcasing India as one of the leading app developing countries globally.
Sumit and team Chingari have shown how to ship product features at a pace that I have not come across before, Utsav Somani, Partner, AngelList India, said in a statement.