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 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.