Indian BeehiveNews

Chingari raises seed funding of USD 1.3 million

New Delhi: Social media platform, Chingari, which rose to fame following the government’s ban on 59 Chinese apps, including TikTok, has received seed funding of $1.3 million from AngelList, LogX Ventures, iSeed, Village Global and some others.

The company says it will use the funds for hiring, accelerate product development, ramp up its platform and improve consumer engagement.

The company had won the Indian government’s Aatmanirbhar App Innovation challenge recently, in the social media space, with a prize money of 20 lakh. It announced the funding news two days after winning the challenge.

According to the company, it has about 25 million downloads right now and 3 million daily active users. It pays 30% commissions of advertisements to its content creators right now.

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