Indian short video apps Mitron, Chingari, Trell that secured funding in the pandemic
After the downfall of ByteDance-owned TikTok app, many homegrown short-format video systems rose to prominence. The app, which was once banned alongside with fifty eight different Chinese apps in July, had the biggest and most loyal user base in India.
In fact, in accordance to TechCrunch, social media massive Facebook is additionally trying out short-form movies on its app in India. Moreover, Facebook-owned image-sharing app Instagram is reportedly trying out a TikTok-like characteristic referred to as ‘Reels’ in the country.
Apart from witnessing a collective surge in traction, these homegrown short-video structures have bagged funding from pinnacle VCs additionally submit the Indian government’s ban on Chinese apps.
In August, TikTok rival Chingari raised $1.3 million in seed funding from AngelList India, Utsav Somani’s iSeed, Village Global, LogX Ventures, and Jasminder Singh Gulati of NowFloats.
The fast-growing Indian choice to banned TikTok, with a 25 million-strong consumer base and over three million every day lively users, lately emerged as the pinnacle winner in the “social” class of the Aatmanirbhar Bharat App Innovation Challenge. It is additionally witnessing substantial traction from the US, Singapore, and the Middle East, maybe due to a massive Indian immigrant populace in these countries.
Just a month after elevating Rs two crore in a seed round, homegrown short-form video app Mitron raised some other $5 million in August as phase of its Series A spherical from Nexus Venture Partners. Existing traders 3one4 Capital and Arun Tadanki’s personal syndicate LetsVenture, and different tremendous angels additionally participated in the round.
Launched in April 2020 by means of Anish Khandelwal and Shivank Agarwal, Mitron lets in customers to create, view, upload, and share brief videos. The app has over 33 million downloads on Google Play Store and claims to have over 9 billion video views per month. Mitron app received a different point out beneath the “social category” of the Aatmanirbhar Bharat App Innovation Challenge concluded recently.
Lifestyle-community-commerce platform Trell raised its Series A spherical of funding of $11.4 million led by using KTB Network in August. With this, the complete funding raised by means of Trell comes to $16.95 million.
Founded in August 2017 by way of IIT Bombay alumni Arun Lodhi, Prashant Sachan, Pulkit Agrawal, and NITIE alumnus Bimal Kartheek Rebba, Trell is a mobile-based application, the place customers come collectively to share three-minute vertical videos round their pastimes and passions in the categories, and join with like-minded people in their native languages.
The Bengaluru-based app has over 20 classes on hand in eight Indian languages. Since the ban on Chinese apps, Trell claims to have witnessed five hundred percentage increase with over 15 million creators on its platform receiving greater than 5 billion month-to-month views. It has over 10 million downloads on Google Play Store
Gurugram-based user-generated content material platform Bolo Indya raised $300,000 in pre-Series A1 spherical led with the aid of Eagle10 Ventures, India Accelerator, and HNIs. With this round, the startup’s whole fund sums up to $500,000
The funding will be used to beautify personalization and advice engines, increase language evangelists and fortify the team, as properly as expand and speed up product development.
