Bolo Indya raises $400,000 to improve personalization and recommendation engine
Bolo Indya, the local short video sharing platform, raised $400,000 in funding. The last round of investment was led by Inflection Point Ventures. Existing investors from Eagle10 Ventures also participated in the round. With the latest funding, Bolo Indya has raised $1 million in funding to date.
Bolo Indya said he will use this money to improve the personalization and recommendation engine, which will help further develop Bolo Meets. It will also focus on empowering content creators.
“Bolo Indya offers a unique Bolo Meets proposition to its 2.8 million content creators to leverage their social capital on the over 6.5 million user base and ask subscribers to micropayments to profit one to one and one to multiple live video sessions with them. around their area of expertise, the company said in its statement.
Content creators are already making between 60,000 and 70,000 INR per month thanks to this initiative, with more than 50,000 bookings since the launch of Bolo Meets. Bolo Meets has become a ditch for Bolo Indya resulting in high user engagement and designer loyalty and also catching the eyes of investors. The main categories of Bolo Meets include astrology, lifestyle, fitness, language learning, singing, dancing, standing comedy and learning instruments, he added.
In case you didn’t know, Bolo Indya was founded in May 2019. It was one of the best Indian apps that got huge traction after the TikTok ban in India. It showed 20-25% MoM growth before TikTok was banned in India. Immediately after the TikTok ban, the platform saw a growth spike of 200%.
Founder Varun Saxena recently revealed that the platform is seeing 150% MoM growth – a trend quite similar to other Indian platforms such as Chingari.
