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Chingari, a TikTok competitor based in India, has closed a $15 million funding round

OKEx, one of the world’s most well-known cryptocurrency exchanges, has invested in Chingari, a short-video platform that just completed a $15 million fundraising round.

The startup’s native token GARI will be launched on OKEx on January 18 as part of OKEx’s strategic involvement in Chingari. On the same day, five other cryptocurrency exchanges are expected to list the coin.

Republic Capital led the extended Series A investment round for the Indian video platform Chingari, according to the article. Onmobile, JPIN Venture Catalysts, and Hill Harbour were among the other investors at the event. Chingari has now amassed a total of $28 million as a result of the current development. In addition, OKEx has made an undisclosed investment.

The extra funds will be used by chingari to improve the app’s technology, roll out new features, focus on Artificial Intelligence. Then, and Machine Learning (AI/ML), and expand the firm’s personnel, according to the company. The funds will also be utilized to enhance the company’s marketing operations. That’s, in order to strengthen the brand’s presence in non-metro cities around the country.

Chingari disclosed receiving $13 million in a pre-Series A investment led by OnMobile Global in April 2021.

In addition, Chingari intends to roll out live-streaming, socio-commerce, and audio chat functionalities.

These updates are meant to assist producers in increasing audience engagement and pave the door for high-profile brands and firms to collaborate with the app and its creators.

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