New Delhi: Bolo Indya has raised USD 400,000 (about Rs 3 crore) in funding from Inflection Point Ventures and others that will be used to enhance tools for creators and strengthen the team, a top company official said. The latest infusion, which takes the total funding raised by the short video platform to about USD 1 million (about Rs 7.3 crore), also saw participation from existing investor Eagle10 Ventures.
“We are on the mission to leverage the amalgamation of passion, content and technology to empower every content creator of Bharat to go viral in the shortest span of time and be able to monetise by leveraging the social capital,” Bolo Indya founder Varun Saxena told PTI. He added that the company is focussed on helping content creators develop short videos across interest areas in their local languages.
Bolo Indya has over 65 lakh users including 28 lakh creators, spread across 14 languages. The company intends to grow its user base to 1 crore by March, and 5 crore by December 2021. “The raised funds will be used to enhance our personalisation and recommendation engine, to further expand Bolo Meets and enhance tools to further empower the content creators during Bolo Meets sessions as well as to strengthen the team,” Saxena said.
