New Delhi: Bolo Indya a short infotainment videos platform in local Indian language today announced that it has completed a $300,000 Pre Series A1 round of Funding. Eagle10 Ventures, India Accelerator and HNIs, Mr. Prashant Pansare from Eagle10 has joined the Board of Directors. Mr. Sunil Kamath, ex-CBO of Sharechat and ex-SVP of Opera also participated in the round. The investment bring Bolo Indya funding since launching its visionary Indian language platform to $500,000 and will help the company aggressively enhance personalization & recommendation engine, develop language evangelists and strengthen the team, broaden and accelerate product development.
Bolo Indya currently has over 40 lakh Monthly Active Users across Playstore and OEM Appstores. Over 15 lakh videos are being created on a daily basis on Bolo Indya since June 2020. Bolo Indya currently offers short videos creation, consumption and knowledge networking in 12 Indian Languages – Hindi, Tamil, Telugu, Bengali, Malayalam, Gujarati, Marathi, Odia, Punjabi, Bhojpuri, Haryanvi and Kannada.
Commenting on the announcement Prashant Pansare, Co-Founder, Eagle10 Ventures said “There is an exploding trend of short videos consumption. I am very confident of Varun and the team understandings 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.”
Commenting on the announcement Varun Saxena, Founder, Bolo Indya, said, “We are on the mission to leverage the power of short videos, peer to peer commerce and network affect 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. We are working towards building a daily use case for local language short videos consumption and see ourselves to be on at least one smartphone of every Indian household with a non-English user within the span of next 18 months.”
“On the mission to empower Bharat to create, inspire and network through short knowledge videos in regional languages, Bolo Indya aims to empower content creators to transform social capital to financial independence”
“With internet reaching to 900+ million people in next 3-4 years in India, the demand for User-Generated Content will increase multifold. With more and more people creating and consuming content in their own language, Bolo Indya will be filling that space for these 900+ million in a short duration” says Munish Bhatia, General Manager & Partner, India Accelerator.
“Short videos in local languages are expected to see the demand of over 80 million users by 2022, just 4th to Youtube, Payments and E-Commerce. This is where Bolo Indya wants to bring in the amalgamation of user generated content, influencer impact and structured discoverability to build a product which adds contextual value to the time spent on internet by regional language users.”, concludes Varun.