Mitron TV Has Raised An Undisclosed Sum Of Funding From 9Unicorns The platform enables users to create, consume, and share bite-sized videos across categories and talents
By Prabhjeet Bhatla •
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
9Unicorns announced on Thursday to have invested in Mitron TV, a short video sharing application. Nexus Venture Partners led the $5-million funding round in August and 3one4 Capital led the immediately preceding INR 2 crore pre-seed round in July.
Leading Indian startup founders also participated in the funding round in their individual capacity.
Founded in April 2020 by Shivank Agarwal and Anish Khandelwal, Mitron TV is a social media application built for sharing and creating minute-long videos, catering especially to the Indian market and focused on adding value to every user.
"We are delighted to have the support of 9Unicorns in this journey. Mitron TV has received tremendous growth within 6 months of its inception. With 9Unicorns joining us on this new endeavor, we are sure of providing ground-breaking innovations in the short-video app industry," said Mitron TV co-Founder and chief executive officer Agarwal.
The fundamental idea of the app is to provide an innovative and engaging digital platform for the local talent that does not get the exposure it deserves.
"Mitron TV is a user friendly and user's first platform. We are thrilled to have 9Unicorns' tremendous support. At Mitron, we are tirelessly working towards creating unique in-app experiences with best in class features for quality content. This collaboration will further help us in creating a highly-engaged community of users," added Mitron TV co-founder and chief technology officer Khandelwal.
On October 31, 2020, Mitron TV also launched AtmaNirbhar Apps, a platform built for enabling the discovery of other Made In India apps. AtmaNirbhar Apps lists the available domestic apps across numerous categories like social media, lifestyle, utility, gaming, e-commerce, and government. The idea is to empower and support home-grown technology and talent of Indian developers, thereby disrupting the Indian digital market on the back of the innovative potential within the country.
"The initial six-month progress of Mitron TV is enough to reflect the terrific potential and vision of the idea and the dedication put by the founding team. Their strategies are in line with the need and scope of the emerging digital market, which if executed well, will show more promising customer response. We are therefore delighted to support a dynamic and innovative startup such as theirs," commented 9Unicorns co-founder and managing director Apoorva Ranjan Sharma, in a statement.
Within 3 months since its launch, the app showed promising traction by crossing over 10 million downloads. It currently boasts more than 39 million downloads on the Android Play Store with an average of over 11 billion monthly views. The app recently made its debut on the iOS App Store.
