After the TikTok ban, Mitron app has raised Rs. 2 crores in a seed funding spherical from 3one4 Capital and a Letsventure syndicate led by startup investor Arun Tadanki. The app has additionally reached the milestone of 1.7 crore downloads on Google Play. The brand new achievement occurred simply 5 days after crossing the 1 crore downloads mark and shortly after the federal government imposed a ban on TikTok and 58 different Chinese language apps in India. MitronTV, the makers of the Mitron app, stated that the app noticed greater than 11 instances development in its every day site visitors only a day after the TikTok ban got here into place.
The event group behind the Mitron app will use the recent funding to speed up its product improvement roadmap, have interaction deeper with Indian content material creators, and rent new expertise to scale the tech infrastructure and make it out there for a bigger person base, the corporate stated in a press release.
“With the help of this spherical, our focus is on constructing options and supporting content material that uniquely resonates with Indian customers, whereas prioritising neighborhood requirements and native legal guidelines in India,” stated Shivank Agarwal, Founder and CEO of the Mitron app, in a mailed assertion.
Agarwal, a pc science engineer and IIT Roorkee alumnus, based the Mitron app together with Anish Khandelwal earlier this 12 months. The app went dwell on Google Play in April and crossed 50 lakh downloads in lower than a month after its debut.
“Our platform is now fully scalable and autonomous and that’s serving to us to cater to the sharp rise in site visitors and engagement on Mitron app,” stated Co-Founder and CTO Khandelwal.
The anti-China sentiment helped the Mitron app appeal to new customers on its platform. Nonetheless, it did have various bugs and issues on the preliminary stage. The app was even briefly removed from Google Play for violating Google’s “Spam and Minimal Performance” coverage. Moreover, its supply code was initially claimed to have a link with a Pakistani developer.
“We have now been working with founders from [the] pre-incorporation part and we consider that [the] founding group is prime notch with a capability to construct a world-class product for Indian customers,” stated Tadanki, lead of the LetsVenture syndicate.
The TikTok ban that came into force by the government on Monday is essentially serving to Mitron attain new customers. The app is claimed to have seen the 11-fold bounce in its site visitors shortly after the ban was imposed by the federal government. Equally, it additionally acquired lakhs of latest downloads from Google Play following the restrictions emerged for its Chinese language competitor.
MitronTV claims that other than the rise in downloads and every day site visitors, movies seen on the Mitron app crossed 24 million video views per hour previously few days.
“We are actually doubling down on bettering the total breadth of person expertise on the app and we’re wanting ahead to releasing some thrilling new options quickly,” stated Agarwal.
Different Indian apps getting benefitted by TikTok ban
Mitron is not the one video-sharing app that’s getting a optimistic influence of the TikTok ban within the nation. Different Indian apps primarily based on the identical short-video format together with Chingari and Roposo are additionally receiving a sudden development because of the absence of the Chinese language app that had over 20 crore customers within the nation.
The Chingari app co-founder Sumit Ghosh not too long ago revealed that his group noticed as many as 1 lakh downloads per hour of the app simply after the TikTok ban was imposed on Monday. Roposo additionally received over 4 crore video views an hour shortly after TikTok left Google Play.
ShareChat’s Moj, a brand new app that is aimed to counter TikTok, additionally received over 50 downloads within the final two days.
Whereas these apps are seeing giant development, lots of the well-liked influencers on TikTok are already established platforms. Many TikTok creators Devices 360 spoke to stated they’ve moved to Instagram and YouTube as an alternative of switching to the Indian options. This means that there’s nonetheless a while for the homegrown apps to draw the lots.
In 2020, will WhatsApp get the killer function that each Indian is ready for? We mentioned this on Orbital, our weekly know-how podcast, which you’ll be able to subscribe to through Apple Podcasts or RSS, download the episode, or simply hit the play button under.
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