Bolo Indya, a short video app based in Gurugram raised $300k pre-series A1 round funding led by Eagle10 Ventures, India Accelerator and HNIs, as confirmed by its Founder, Varun Saxena. This funding has helped the company’s total fund sum up to $500k. Sunil Kamath, ex-CBO of Sharechat and ex-SVP of Opera also participated in the round.
Bolo Indya is a UGC short video app, which allows the users to create two-minute videos sharing their opinions, experiences, knowledge, talent, technology, storytelling, motivation, cooking, lifestyle, finance, relationships and sports across internet areas helping the users to connect over their local regional languages.
Bolo Indya currently has over 40 lakh monthly active users across Play store and Original Equipment Manufacturers (OEM) app stores. Since June 2020, over 15 lakh videos are being created and added to the platform daily. The platform currently offers short video creation, consumption and knowledge networking in over 12 Indian languages – Hindi, Tamil, Telugu, Gujarati, Malayalam, Kannada, Punjabi, Marathi, Odia, Bhojpuri, Haryanvi and Bengali.
Prashant Pansare, Co-founder of Eagle10 Ventures commented with regards to the announcement by Bolo Indya that “There is an exploding trend of short video consumption. I am very confident of Varun and the team’s understanding and execution ability for what is a massive opportunity to build a product which adds significant value to the journey of a local language internet user.” Prashant Pansare will also be joining as the Board of Directors of Bolo Indya post the A1 round funding.
Varun Saxena further added that the team will be making use of the funds in working towards building a daily use case for local language short videos consumption and see the app to be on at least one smartphone of every Indian household with a non-English user within the span of next 18 months.