Video-based knowledge sharing community Bolo on Monday said it has raised ₹ 3 crore in seed funding led by Nexus Venture Partners.
The seed funding round also saw participation from Unacademy founders Gaurav Munjal, Roman Saini and Hemesh Singh, Growth Story founders Ganesh Krishnan and Srinivas Anumolu and Newsdog founder Chen Yukun, a statement said.
The funding will be used to strengthen the team across product, technology and operations of the Bengaluru-based company, it added.
The vernacular platform was launched in July last year by Nishant Chandra and Siddharth Maheshwari. Bolo’s platform allows users to ask and answer questions in Hindi. The answers are in the form of short videos of less than one minute each.
Users can also directly video call with experts on the platform for a small fee to get personalised solutions to their problems.
The app is currently available in Hindi language and its popular categories include beauty and fashion, fitness, cooking and career counselling.
“We aim to enable knowledge sharing among Indians coming online for the first time in a format they prefer and the language that they’re comfortable with. We’re delighted to partner with investors who have a deep understanding of the content ecosystem of India and China…” Bolo co-founder Nishant Chandra said.
According to estimates, 400 million Indians have come on to the internet over the last four years. More than 75 per cent of the total users are expected to be Indian language users by 2021.
Source: The Hindu