Bolo Live bags USD 2.4 million led by Orios Venture Partners
Bolo Live today announced that it has raised USD 2.4 million as a precursor to Series A, led by Orios Venture Partners. SOSV, Tremis Capital, LPA Ventures, and other HNIs also participated in its first VC round including existing investors Eagle 10 Ventures. This takes the total raise by the company to USD 3.5 million till date.
Launched in May 2019, Bolo Live straddles the unique amalgamation of live streaming, gamification, and microtransactions. They empower content creators to leverage the power of active engagement of live streaming and help democratize the monetization for content creators. Bolo Live empowers fans to connect, live chat, engage with and build communities with their favorite live streamers in their preferred languages.
The newly raised funds will be used to accelerate the product development, strengthen the team and accelerate penetration in both India and South Asia markets. Co-founded by second-time entrepreneur and NITIE alumnus Varun Saxena, and Delhi University alumna Tanmai Paul; Bolo Live recently had ex Co-Founder Pratilipi and BITS Pilani alumnus Prashant join the Bolo Live team as CTO.
Varun Saxena, Co-founder and CEO Bolo Live, says, “We are delighted to have Orios Venture Partners join us as our first institutional investors in our journey to build a large social live-streaming platform out of India. Their experience with world-class startups from India shall help us accelerate our path towards making Bolo Live a household name. With the world looking at Indian content creators, there is no better time than this to build a microtransactions driven creator economy platform in India. We have witnessed high stickiness, driven by gamification and communities, and look forward to creating more value for all our users. We strongly believe that we are as good as the growth of live streamers on the platform, and hence we will continue to innovate on more monetization opportunities for our content creators and keep bringing them closer to their fan base.”
Rehan Yar Khan, Managing Partner, Orios Venture Partners, says, “There is an accelerating trend of live streaming and content commerce in India. Bolo Live team’s understanding, enthusiasm, the way they have built differentiation and are scaling it up in this competitive environment, drove our decision to invest in the brand. Their engagement first approaches and focus on high user retention clearly makes them stand apart in the growing social live streaming segment.”
INTERVIEWS
TOP VIDEOS
SECURITY
SOFTWARE
IceWarp announces online office solution hassle-free, seamless data migration
The effects of data migration can hit any business unknowingly owing to either a possibili...
HCL Technologies to help VELUX Group transform digitally
HCL Technologies (HCL) has signed an end-to-end IT services transformation agreement with...
DigitalOcean launches Serverless Solution
DigitalOcean Holdings, the cloud for developers, startups and SMBs, announced the launch o...
START - UP
PERIPHERALS
INDUSTRY EVENTS
ManageEngine celebrates two decades of Technology Innovation
Celebrating 20 years of ManageEngine, the company has hosted a conference on May 19 at the...
As a business you need to anticipate the technology evolution and ways to improve the process: CP Gurnani
CEO Fireside Chat CP Gurnani, Chief Executive Officer & Managing Director, Tech Mahind...
Industry leaders layout the collaborative 5G Opportunities and capabilities for country’s digital transformation
Leading telecommunications experts and industry leaders connected and brainstormed ideas f...
VeeamON 2022 kicked off with insightful sessions on data protection
Veeam Software has kicked off its annual user conference, VeeamON 2022, delivering a rich,...
E- COMMERCE
