India-Gurugram based start-up, Bolo Indya announced on Monday (3rd August,2020) that it has secured USD 300K in pre-series A1 funding round. The participants of the investment round include- Eagle10 Ventures, India Accelerator and High Networth Individuals (HNIs).
The company has so far raised up to USD 500,000 including the latest round. The funds will be deployed to broaden & accelerate product development, personalization & recommendation engine, strengthen the team and develop language evangelist.
Speaking on the announcement, Co-founder of Eagle10 Ventures, Prashant Pansare, said, “There is an exploding trend of short videos consumption. I am very confident of Varun and the team’s understanding and execution ability for what is a massive opportunity to build a product which would add significant value to the journey of local language internet user.”
About the company
Established in the year 2019 by Tanmay Paul and Varun Saxena, the company is an educational content Platform as a Service. It offers short videos based on knowledgeable stuff in Vernacular Languages including Hindi, Gujarati, Telugu, Tamil, Marathi, Punjabi, Kannada, Bhojpuri, Haryanvi, Odia, Bengali and Malayalam.
It also enables its users to create 2 minutes videos sharing their knowledge, opinions and experience in their interest areas and display the video to the local language audience that shares similar interests. The app currently has over 4 million monthly active users across OEM appstore and Playstore.
Co-founder of Bolo Indya explained that, “We are on a mission to leverage the power of short videos, peer to peer commerce and network effect to empower every content creator of Bharat to go viral in the shortest span of time and be able to monetize by leveraging the social capital.”
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