Bolo Indya, a Gurugram-based short video app, announced that it has raised $300,000 investment from Eagle10 Ventures, India Accelerator Group and HNIs, according to an ETtech report.
Till now the company has raised over $500,000 in funding. The new funds will be used to enhance personalisation and recommendation engine, develop language evangelists and strengthen the team.
“We are working towards building a daily use case for local language short videos consumption and see ourselves to be on at least one smartphone of every Indian household with a non-English user within the span of next 18 months,” said Varun Saxena, founder, Bolo Indya.
Post funding, Prashant Pansare from Eagle10 will join the Board of Directors. Sunil Kamath, ex-chief business officer of Sharechat and the former senior vice-president of Opera also participated in the funding round.
Bolo Indya allows users to create and consume short videos of maximum duration of 2 minutes across interest areas ranging from lifestyle, cooking, entertainment, talent, technology, storytelling, motivation, finance, relationships and sports among others. Users can interact with content creators as well as others who share similar interests within the same language.
Bolo Indya said it currently has over 40 lakh monthly active users across Playstore and OEM app stores. It added over 15 lakh videos are being created on a daily basis on Bolo Indya since June 2020.
Bolo Indya currently offers short videos creation, consumption and knowledge networking in 12 Indian languages – Hindi, Tamil, Telugu, Bengali, Malayalam, Gujarati, Marathi, Odia, Punjabi, Bhojpuri, Haryanvi and Kannada.
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