MitronTV Announces Seed Round And Milestone Of 17 Million Users
It is a short-form social video app that allows users to create, upload, view and share entertaining short videos.
Homegrown social video app MitronTV has announced its Seed Round closure, led by 3one4 Capital and a LetsVenture syndicate led by Arun Tadanki.
Founded by two Computer Science engineers, Shivank Agarwal (alumnus of IIT Roorkee) and Ankit Khandelwal (alumnus of Visvesvaraya National Institute of Technology), Mitron app is a short-form social video app that allows users to create, upload, view, and share entertaining short videos.
With a deep commitment to user privacy, data integrity, and localization, the MitronTV team has already scaled usage to over 17 million (1.7 Crore) downloads in a span of a few weeks since launch.
The company will use the funding round to accelerate its product development roadmap, engage more deeply with a wide network of Indian content creators who are sharing videos on the app, and to hire talent already identified to scale the tech infrastructure and prepare for a much larger user base with deeper engagement.
Shivank Agarwal, Founder and CEO of Mitron said, “We are a young company and we are hiring some of the best product & engineering talent to scale up Mitron rapidly. We are confident that we can build Mitron into one of the best apps in the short-form social video space. With the support of this round, our focus is on building features and supporting content that uniquely resonates with Indian users, while prioritizing community standards and local laws in India.”
Anish Khandelwal, Founder & CTO, said, "We have built a solid backend infrastructure fully hosted and domiciled in India. Our platform is now completely scalable and autonomous and that is helping us to cater to the sharp rise in traffic and engagement on the Mitron App. We are particularly happy with how our product team has been able to respond proactively and ensure that there is no downtime for our users’ experience”.
Anurag Ramdasan, Head of Investments at 3one4 Capital, said, “We are excited to be working with the MitronTV team and grow a bottoms-up social video experience from India. We are deeply impressed by the team’s commitment to follow a zero-compromise approach when it comes to the privacy of their users and the principles of data sovereignty, integrity, and localization. This is a critical time for the Indian startup ecosystem to establish new standards in empathetic product design for Indian users, and we are happy to support MitronTV as a standard-bearer for this movement.”
Arun Tadanki, Lead of the LetsVenture syndicate, said, “ We spotted Mitron at a very early stage before anyone even heard of it and completed the round very rapidly. We have been working with founders from the pre-incorporation phase and we believe that the founding team is top-notch with an ability to build a world-class product for Indian users. We are delighted by the rapid progress Mitron team is making to build a product with large scale adoption”
Mitron’s traffic jumps up 11-fold with 17 Million Users
Just over a day after the Government of India announced a ban on several Chinese apps, popular short-form social video app Mitron reported that its daily traffic jumped up by more than 11 times.
Just 5 days after crossing the 10 million (1 crore) downloads milestone, Mitron has now announced that the app has been downloaded by 17 million (1.7 crores) users in India. Mitron app has been one of the most downloaded apps in India during the last two months.
“It is incredibly exciting to see the rapid adoption of Mitron by Indian users. The 11-fold jump in traffic, immediately after the ban of Chinese apps, was beyond our expectations. We are now doubling down on improving the full breadth of user experience on the app and we are looking forward to releasing some exciting new features soon”, said Shivank Agarwal, Founder, and CEO, Mitron.
Users uploaded millions of videos in 10 different languages and the number of videos viewed on the platform increased sharply to cross 24 million video views per hour.
The Mitron team has been rapidly enhancing the product with several improvements for the users including an updated video upload process that is much more intuitive, enhanced audio library with a wide choice of Indian content, and a feature that enables users to flag any inappropriate content easily.
Around The World