Bolo Indya fetches $300K Pre Series A1 Funding by Eagle 10 Ventures and India Accelerator Group

Bolo Indya, a short infotainment video platform in local Indian languages, has announced that it has completed a $300,000 Funding. With this round of funding, Bolo Indya’s total fund sums up to $500,000.

Eagle10 Ventures, India Accelerator and HNIs, Prashant Pansare from Eagle10 has joined the Board of Directors. Sunil Kamath, ex-CBO of Sharechat and ex-SVP of Opera also participated in the round. The investment will help the company aggressively enhance personalisation and recommendation engine, develop language evangelists and strengthen the team, broaden and accelerate product development.

Bolo Indya has over 40 lakh monthly active users across Playstore and OEM App stores. Over 15 lakh videos are being created on a daily basis on Bolo Indya since June 2020. Bolo Indya offers short video creation, consumption and knowledge networking in 12 Indian Languages – Hindi, Tamil, Telugu, Bengali, Malayalam, Gujarati, Marathi, Odia, Punjabi, Bhojpuri, Haryanvi and Kannada.

Prashant Pansare, Co-Founder, Eagle10 Ventures, said, “There is an exploding trend of short videos 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 that would add significant value to the journey of the local language internet user.”

Varun Saxena, Founder, Bolo Indya, said, “We are on the mission to leverage the power of short videos, peer to peer commerce and network effect to empower every content creator of Bharat to go viral in the shortest span of time and be able to monetise by leveraging the social capital. We are working towards building a daily use case for local language short videos consumption and see ourselves to be on at least one smartphone of every Indian household with a non-English user within the span of next 18 months.”

“On a mission to empower Bharat to create, inspire and network through short knowledge videos in regional languages, Bolo Indya aims to empower content creators to transform social capital to financial independence.”

“With internet reaching to 900+ million people in the next 3-4 years in India, the demand for user-generated content will increase multi-fold. With more and more people creating and consuming content in their own language, Bolo Indya will be filling that space for these 900+ million in a short duration,” said Munish Bhatia, General Manager and Partner, India Accelerator.

“Short videos in local languages are expected to see the 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 the amalgamation of user-generated content, influencer impact and structured discoverability to build a product which adds contextual value to the time spent on the internet by regional language users,” concluded Saxena.