[Funding alert] Knowledge-sharing platform Bolo Indya raises pre-Series A round from ah! Ventures
Gurugram-based Bolo Indya, a video-based knowledge sharing platform, has raised an undisclosed amount of pre-Series A investment through angel investment platform ah! Ventures.
Currently providing short knowledge videos in Hindi, Tamil, and Telugu, Bolo Indya plans to use the raised funds to expand to multiple languages, introduce new forms of short video creation, develop language communities, and scale up the user base.
After having worked on the beta version for nine months, NITIE Mumbai alumnus Varun Saxena started the company in May 2019. Bolo Indya enables users to create and consume short videos of maximum duration of 70 seconds. The interest areas range across life, relationships, career, motivation, finance, technology, sports and many more.
The users can also interact with content creators apart from others who share similar interests within the same language.
Varun Saxena, Founder of Bolo Indya said,
"We are on the mission to raise the bar of vernacular content and create a destination for everyone who wishes to share or consume knowledge in local language. We aim to add value to the next billion internet users of India by providing them a contextual meaning to leverage the power of internet, beyond just entertainment and news."
The data shared by ah! Ventures suggests that over 30 lakh hours of content has been consumed since the launch of the startup. Content Creators on Bolo Indya can earn up to Rs 6000 for every 60 minutes of content contributed, based on its quality and popularity among the users.
"We aim to create a daily use case for vernacular content consumers, where they realise how internet can help them grow personally and professionally with the power of content and community. We are moving aggressively towards taking at least 1 of the 4 hours these users spend daily on internet by March 2020, with MAU of over 1 million," Varun added.
Abhijeet Kumar, Co-founding Partner at Ah! Ventures said,
"Bolo Indya is solving for the knowledge and information needs of vernacular users through a unique platform that has a short video first approach, organically growing a strong community of creators and consumers, and 100 percent platform-originated content. We are excited to be the part of this journey."
(Edited by Evelyn Ratnakumar)