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Exclusive: Chai Shots to raise $5 Mn from General Catalyst and InfoEdge

EntrackrEntrackr · 1m ago
Exclusive: Chai Shots to raise $5 Mn from General Catalyst and InfoEdge
Medial

Exclusive: Chai Shots to raise $5 Mn from General Catalyst and InfoEdge Hyderabad-based microdrama over the top (OTT) platform Chai Shots is raising $5 million in its maiden funding round, two sources aware of the development told Entrackr. “General Catalyst along with Info Edge are in advanced stages of closing a new funding round in Chai Shots,” said a source requesting anonymity. “A few angel investors may also participate.” Chai Shots is a short-video streaming platform with episodes under two minutes, available in several Indian languages. The platform is created by the team behind Chai Bisket, a popular digital media and storytelling company. The Chai Bisket team has built a content ecosystem over nine years, covering reels, podcasts, films, and regional stories through platforms like First Show, Mutiny Talent, Studio Panchatantra, and Chai Shots. The Chai Shots platform is still being developed and is expected to launch soon. “The official launch and funding announcement might take a few weeks,” said another source. The person also mentioned that interest in this space is growing, and a few more startups are likely to raise funds soon. Earlier this week, Flick TV, a similar startup, raised $2.3 million in seed funding led by Stellaris Venture Partners, with participation from Gemba Capital and Titan Capital. Chai Shots will also face competition from Kuku FM’s Kuku TV, ShareChat’s QuickTV, Reel Saga, and Reelies. Queries sent to Chai Shots, General Catalyst, and Info Edge did not elicit a response until publication of the story.

FanTV raises $3 Mn to transform AI-powered content creation

EntrackrEntrackr · 4m ago
FanTV raises $3 Mn to transform AI-powered content creation
Medial

FanTV, a content platform on the Sui blockchain, has secured an additional $3 million in strategic investment from Mysten Labs, Cypher Capital, CoinSwitch Ventures, and Illuminati Capital. Prior to this, the company had raised $5.5 million from Multicoin Capital, Woodstock Fund, Krafton, IOSG Ventures, Pravega Ventures, and Tykhe Block Ventures. Founded in 2023 by Prashan Agarwal, FanTV blends AI and blockchain technology to empower content creation. It operates on the Sui blockchain and has attracted over 8 million users, including 80,000 creators, with more than 30 million transactions and 1.2 million hours of AI-generated content processed each month. According to FanTV, creators produce music, videos, podcasts, web series, and vlogs using cutting-edge AI tools. The platform supports both emerging talent and established influencers, featuring creators like TrevinVSNFT, Sui’s top content creator, Bitcoin educator Kashif Raza, CryptoIndia, BlockFuel, and rising digital voices like MrBreadSmith. Beyond making content creation effortless, FanTV is redefining how creators monetize their work. Through AI-powered tools, digital tipping, and personalized Creator Coins, it allows users to support their favorite creators while giving creators direct ownership of their content. FanTV’s economic model combines paid AI-powered content creation features with engagement rewards, allowing users to purchase credits for premium AI tools, tip and gift creators, and even launch their own digital tokens to offer exclusive content and foster deeper community engagement. FanTV plans to develop advanced AI tools for creators, expand its global creator network, and enhance user growth strategies. The platform’s unique approach to merging AI with blockchain capabilities ensures a decentralized ecosystem that prioritizes creator ownership, fair value distribution, and new opportunities for digital creators worldwide.

Abound raises $14 Mn to boost cross-border finance for Indian Americans

EntrackrEntrackr · 3m ago
Abound raises $14 Mn to boost cross-border finance for Indian Americans
Medial

Abound raises $14 Mn to boost cross-border finance for Indian Americans Abound, the financial super-app designed for Indians in the US, has raised $14 million in a seed funding round led by NEAR Foundation, with participation from Circle Ventures, Times Internet, and others. This round marks Abound’s first external investment since its incubation at Times Internet, the digital arm of The Times of India Group. In July 2023, the startup raised $10 million from the Times Group to expand its remittance offering. The fresh funds will be utilized to expand its product offerings, enhance technology infrastructure, and grow the team across product, engineering, and growth, Abound said in a press release. Launched by Nishkaam Mehta, Abound is a unified platform where the community can earn rewards, send money home, and manage their finances—allowing users to send, spend, save, invest, and borrow across borders, all in one app. It selected NEAR as its blockchain foundation for its industry-leading scalability, efficiency, and resilience, enabling a seamless experience while maintaining the security and transparency users deserve. Abound claims to have already processed over $150 million in remittances and facilitated $87 million in rewards GMV, demonstrating significant traction. It also reports 50% month-on-month revenue growth over the past six months, with a user base exceeding 500,000. Abound aims to redefine what it means to be a financial platform for the Indian diaspora. While traditional banking services treat cross-border finance as an afterthought, Abound integrates remittances, rewards, and next-gen financial services into a digital-first consumer experience.

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