Indigenous short-video sharing app Mitron has raised $5 million as part of Series funding led by Nexus Venture Partners. Last month, Mitron raised Rs two crore in a seed round. The apps’ existing investors, like 3one4 Capital and LetsVenture, were also there in the latest round of the funding.
Moreover, notable entrepreneurs and angels like Deep Kalra i.e Founder and Chairman of MakeMyTrip; Anand Chandrasekharan i.e Former Facebook executive; Radhika Ghai who is Co-founder of ShopClues; Jiten Gupta, Founder of Jupiter; Karan Bajwa, Managing Director of Google Cloud India; TK Kurien of Premji Invest; Shanti Mohan, Founder of LetsVenture; Manish Vij and Harish Bahl, Smile Group; Amarjit Batra, MD of Spotify India and Amrish Rau, CEO of Pine Labs also participated in their capacity.
As per sources, the Mitron app said in a release that the company will use the funding for the development of products, user engagement, and talent acquisition. The company is also planning to onboard a network of content creators and invest in building its platform.
Mitron app founded by Shivank Agarwal and Anish Khandelwal and it was launched in April 2020. Both of them have also worked together at MakeMyTrip. The app has claimed to possess more than 3.3 crore downloads on the Play Store with almost 900 crore video views per month.
The company is thrilled with joining Nexus Venture Partners with them in this journey, and now they are planning to bring deep expertise in helping their portfolio corporations to build great products. Hence, they are committed to building the Mitron app as one of the world-class products which are designed for Indian users and developers, by re-imagining digital entertainment and engagement.
