Chingari Raises $19 Mn; Partners With Solana For $GARI Tokens

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Chingari Raises $19 Mn; Partners With Solana For $GARI Tokens

Short Video Entertainment App Chingari is prepared to raise 18-20 million dollars in a new round of  new and existing investors, said that advancement knows. This is the second round of financing for a Startup situated in Bangalore, which brought $ 13 million up in series An in April this year.

Bravery Equity Partners, Kraken, Blackpine, NGC, Coinfund, LD Capital, Borderless Capital, AU21, Cultur3 Capital, Long Term Ventures, Afton Capital, and CSP DAO, also took part in this round.

Token For Creator Monetisation

With the fund raised, the startup has also declared that it has joined forces with social blockchain stage Solana for its social token named as $GARI.

As per the organization, the token, a basic piece of the stage, will empower makers to set up their own internet business space for actual product, NFT manifestations, and the capacity for fans to finance their number one craftsmen.

Social tokens are blockchain-based initial coin offerings (ICOs) that associate the makers and buyers of content without a go-between in the exchange. Connected to the current local area building endeavors around the maker — fans purchase or execute in the tokens, in return for selective substance, stock, and so forth — they help in driving genuine worth creation.

Chingari, which professes to have 75 Mn downloads across Google Play Store and Apple’s App Store with 30 Mn month to month dynamic clients (MAUs), is right now expanding on Solana and doing social tokens on the stage in Blockchain.

About Chingari App

Chingari launched in 2018, by Aditya Kothari, Biswatma Nayak, Deepak Salvi, Sumit Gosh, Sumit Gosh Chingari is a social media stage where clients can transfer videos, visit with companions, connect with new individuals, share content, peruse and others. The stage offers focuses to its substance makers and these focuses can be reclaimed for cash.

Preceding this round, in April 2021, Chingari had raised $13 Mn driven by portable entertainment organization OnMobile with interest from Bollywood entertainer Salman Khan.

Chingari hoarded the spotlight when the Indian government prohibited the Chinese short video stage TikTok on the grounds of public safety. The startup at present has 3.5 Mn day by day dynamic clients (DAUs) and it straightforwardly sets in opposition to other Indian short-video platform like Mitron, Trell, Roposo, and ShareChat, among others.

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