VC Fund Investments
Short-video platform Chingari raises $19-M, picks Solana for its crypto token
Bangalore-based short-video platform Chingari has raised over USD 19 million that will help it build its token called '$GARI' with Solana, a fast-growing ecosystem in crypto technology. The 30 crypto firms that participated in the Chingari funding round include Republic Crypto, Galaxy Digital, Alameda Research, Solana Capital and Valor Equity Partners. Chingari will use the funds to test blockchain live and the upcoming $GARI token sale. Chingari claims to have notched up over 78 million downloads and 30 million monthly active users.
From the Venture Intelligence PE-VC Deal Database: Between Aug-20 and Oct-20, Chingari had raise more than INR 100 crore from LogX Ventures, Village Global, FJ Labs and Astarc Ventures. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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