AAA Chingari checks in $13m

Chingari checks in $13m

India-based video-sharing app Chingari has raised $13m in a funding round led by mobile entertainment provider OnMobile, which acquired a 10% stake, the Economic Times has reported.

Accounting and legal services firm Taxmantra Global participated in the round through its venture capital vehicle, ProfitBoard Ventures, while news broadcaster India TV invested directly

Republic Labs US, Astarc Ventures, White Star Capital, JPIN Venture Catalysts, private investor Raghunandan G and unnamed UK-based family offices also took part in the round. Actor Salman Khan received $1.8m of shares to become Chingari’s global brand ambassador while his talent agency, Uniworld Being Talented, secured $200,000 of shares.

Chingari’s mobile app hosts short-form videos and it will integrate OnMobile’s gaming platform, Onmo, into the platform, which it claims has 56 million users.

The company had previously raised $1.4m from investors including AngelList, iSeed Ventures, Village Global, Blume Ventures’ Founders Fund, FJ Labs and angel investor Jasminder Gulati.