New Delhi: Homegrown short-form video app Mitron on Tuesday introduced it had raised $5 million (roughly Rs 37.three crore) led by Nexus Enterprise Companions in a brand new funding spherical.
Current traders 3one4 Capital and Arun Tadanki’s personal syndicate LetsVenture additionally participated within the newest spherical.
Mitron app is a short-form social video app that permits customers to create, add, view, and share entertaining quick movies.
Based by two pc science engineers, Shivank Agarwal who’s an alumnus of Indian Institute of Expertise Roorkee and Anish Khandelwal, an alumnus of Visvesvaraya Nationwide Institute of Expertise in Nagpur, Maharashtra, the app was launched in April this 12 months.
Mitron mentioned it’s going to use the brand new infusion of capital to speed up its product growth to extend person engagement and rent prime quality expertise.
The corporate goals to onboard a large community of Indian content material creators on the app, and put money into constructing the model.
“We are thrilled to have Nexus Venture Partners join us in this journey, bringing in deep expertise of helping their portfolio companies build great products,” Agarwal who can be the CEO of Mitron, mentioned in a press release.
“With more than 33 million downloads on Google Play Store and 9 billion video views per month, Mitron has emerged as the popular choice among Indians for short-form video.”
The newest spherical of financing noticed participation from angels together with Deep Kalra (Chairman, MakeMyTrip), Amrish Rau (CEO, Pine Labs), Jiten Gupta (Founder, Jupiter), Amarjit Batra (MD, Spotify India), Anand Chandrasekharan (Former Fb, Snapdeal govt), Karan Bajwa (MD, Google Cloud, India), Radhika Ghai (Co-founder, Shopclues), Vikalp Sahni (Co-Founder and Ex-CTO at GoIbibo) and Shanti Mohan (Founder, LetsVenture).
TK Kurien (Premji Make investments), Manish Vij and Harish Bahl (Smile Group) additionally participated of their particular person capacities.
Earlier, Mitron had introduced a seed funding spherical on July 1, led by 3one4 Capital and a LetsVenture syndicate led by Arun Tadanki.
A number of new digital startups have attracted the eye of traders within the current months.
Way of life group commerce platform Trell on Monday introduced a $11.four million (almost Rs 86 crore) Sequence A spherical funding led by KTB Community and Samsung Ventures, amongst others.
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