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.
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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.