Bolo Indya, a Gurugram based short videos sharing platform in local Indian languages, has raised $4,00,000 led by Inflection Point Ventures.
Existing investors from Eagle10 Ventures also participated in the round. This has taken the total raise by the company close to $1 million till date.
Bolo Indya aims to empower content creators to transform social capital to financial independence. To do this, Bolo Indya offers a proposition of Bolo Meets, launched in late October, to its 2.8 million content creators to leverage their social capital across the user base of more than 6.5 million and have the followers do micropayments to avail one-to-one and one-to-many live video sessions with them around their areas of expertise.
The funds raised will be used to enhance personalisation and recommendation engine, to further expand Bolo Meets and enhance tools to empower the content creators as well as to strengthen the team.
“We are on the mission to leverage the unique amalgamation of passion, content and commerce to empower every content creator to go viral in the shortest span of time and be able to monetise by leveraging the social capital. We are building towards democratising the talent and skill of every content creator out there who loves creating short videos across interesting areas in their local languages,” Varun Saxena, founder Bolo Indya, said in a statement.
Bolo Indya claims that content creators are already earning upto ₹60,000– 70,000 per month from this initiative, with more than 50,000 bookings since the launch of Bolo Meets. It is also attracting investor attention. Top Bolo Meets categories include astrology, lifestyle, fitness, language learning, singing, dancing, standup comedy and instrument learning.
“Short videos in local languages are expected to see demand of over 80 million users by 2022, just fourth to Youtube, Payments and E-Commerce. This is where Bolo Indya wants to bring in video commerce for personalized online services to build a product which adds contextual value to the time spent on the internet by regional language users” said Saxena.