OnMobile leads Rs 95 cr investment round in Chingari
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Bengaluru-based telecommunication firm OnMobile has led a $13 million (nearly Rs 95 crore) funding round in homegrown short-form video app Chingari, the companies announced on Thursday.
As part of the deal, OnMobile will integrate and distribute its direct-to-consumer gaming platform, ONMO, on the Chingari app and collaborate on other mobile product integrations to serve millions of users.
On the other hand, Chingari will use the funds to enhance its content portfolio, hire top talent and accelerate its growing user base.
Chingari said that the investment will help it accelerate its growth from 56 million users to over 100 million users.
"We couldn't have hoped for a better partner than OnMobile to help Chingari embody its vision and become a content super media app for Bharat, and help engage a billion Indians," said Sumit Ghosh, Co-Founder and CEO of Chingari.
Earlier last year, Chingari had raised $1.4 million from a series of investors.
"We are very excited about this investment and partnership bringing millions of users to the new ONMO gaming service while providing immediate business value and increased user reach for both companies," said François-Charles Sirois, Executive Chairman of OnMobile.
Chingari allows its users to download and upload videos, chat with friends, interact with new people, share content, browse through feed, and much more.
The platform is available in more than 10 vernacular languages along with English and Spanish.
"The Chingari team has built a terrific product with great user retention and growth. ONMO gaming's short format challenges and Chingari's short-form videos complement each other well," said Krish Seshadri, CEO of OnMobile.
