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Short-video making enabler Chingari to raise $15-M: report

Inc42  

Short video-making startup Chingari is raising USD 15 million in a Series A extension round, at a pre-money valuation of USD 70 million. Chingari has already received the first tranche of this round. The startup has allotted 13,962 Series A extension compulsory convertible preference shares for an aggregate amount of USD 5.38 million (INR 38.7 crore). Earlier in April, Chingari raised USD 13 million led by mobile entertainment company OnMobile with participation from Bollywood actor Salman Khan.