OnMobile leads $13 million investment round in Chingari

By: |
Updated: Apr 01, 2021 3:05 PM

Chingari will use the funds to enhance its content portfolio, hire top talent and accelerate its growing user base

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 usersOnMobile 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

Mobile entertainment solution provider OnMobile Global Limited, and short-form video app Chingari, have announced that OnMobile has led a $13 million funding round in Chingari. This investment will allow Chingari to accelerate its growth from 56 million users to over 100 million users, the company said in an official statement. 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. Chingari will use the funds to enhance its content portfolio, hire top talent and accelerate its growing user base.

Other investors who participated in this round include Republic Labs US, Astarc Ventures, White Star Capital, India TV (Rajat Sharma), JPIN Venture Catalysts Ltd, ProfitBoard Ventures, Raghunandan G of Zolve (Co-Founder of TaxiForSure) and some large family office funds from the UK. Earlier last year Chingari had raised $1.4 Million from a series of Angels, including Jasminder Gulati, FJ Labs (Fabrice Grinda), Angelist, Utsav Somani’s iSeed, Village Global, and Blume Founders Fund.

“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,” François-Charles Sirois, executive chairman, OnMobile, stated on the partnership.

“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,” Krish Seshadri, CEO, OnMobile, added.

“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. With our visions aligned, this partnership promises to be a winning collaboration,” Sumit Ghosh, co-founder and CEO, Chingari stated.

Read Also: How 2020 was a year of challenges and opportunities for emerging Bharat

Follow us on Twitter, Instagram, LinkedIn, Facebook

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

BrandWagon is now on Telegram. Click here to join our channel and stay updated with the latest brand news and updates.

Next Stories
1Bacardi India ropes in Zeenah Vilcassim as marketing director
2Mullen Lintas bags MFine’s creative duties
3Deepika Bhan joins Tata Consumer Products as president, packaged foods