Mitron, which competes with Chinese app TikTok, has finally been able to raise its first venture capital funding
A CNBC-TV18 report said 3one4 Capital has invested in it. However, the amount of investment has not been disclosed.
Commending the Mitron team, Pranav Pai, Managing Partner, 3one4 Capital, said: "We are happy to be working with the MitronTV team to help build a grounds-up social video experience for India. We are excited to help build an India-first product that upholds strict data integrity, user privacy, and transparency."The Mitron app has been gaining popularity over the past weeks, in the backdrop of growing anti-China rhetoric following border clashes along the Line of Actual Control (LAC) in Ladakh. The number of downloads has increased manifold and over one crore people have installed it already.It is not the only local app that has seen a massive surge in user base. Other homegrown apps such as Roposo and Chingari have also benefitted from the government's move.
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