Homegrown short-form video app Mitron has announced it raised $ 5 mil, led by Nexus Venture Partners. 3one4 Capital and Arun Tadanki’s private syndicate on LetsVenture also participated in the latest round.
Mitron app is a short-form social video app that allows users to create, upload, view, and share entertaining short videos. Mitron is founded by Shivank Agarwal (alumnus of IIT Roorkee) and Anish Khandelwal (alumnus of Visvesvaraya National Institute of Technology). Both the founders are Computer Science engineers and earlier worked together at MakeMyTrip.
The latest round of financing saw participation from stellar angels including Deep Kalra (Chairman, MakeMyTrip), Amrish Rau (CEO, Pine Labs), Jiten Gupta (Founder, Jupiter), Amarjit Batra (MD, Spotify India), Anand Chandrasekharan (Former Facebook, Snapdeal executive), Karan Bajwa (MD, Google Cloud, India), Radhika Ghai (Co-founder, Shopclues), Vikalp Sahni (Co-Founder and Ex-CTO at GoIbibo and Volunteer Architect at AarogyaSetu) and Shanti Mohan (Founder, LetsVenture). TK Kurien (Premji Invest), Manish Vij & Harish Bahl (Smile Group) also participated in their individual capacity.
The company will use the new infusion of capital to accelerate its product development to increase user engagement and hire high quality talent. The company also plans to onboard a wide network of Indian content creators on the app and invest in building Mitron brand.
Shivank Agarwal, Founder and CEO of Mitron, said, “We are thrilled to have Nexus Venture Partners join us in this journey, bringing in deep expertise of helping their portfolio companies build great products. We are committed to building Mitron as a world-class product that is designed for Indian users, by reimagining digital entertainment and engagement. With more than 33mil downloads on Play Store and 9 billion video views per month, Mitron has emerged as the popular choice among Indians for short-form video. We are thankful to our users for their love for Mitron.”
Mitron app was launched in Apr 2020 and achieved the 10mil download milestone even before the unprecedented ban on Chinese apps.