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Chingari to Raise Funds at $1 Billion Valuation

Tech4Billion Media plans to raise $200 million at a valuation of $1 billion, propelling the operator of video-sharing platform Chingari into India’s fast-growing unicorn league. Chingari will use its Series B fundraising round to raise the additional funds. The successful launching of its social token GARI on numerous cryptocurrency platforms last month will support the firm valuation.

The platform is in talks with several local and international venture capital firms and crypto-focused funds for fundraising. The funding round is expected to close in about two months. The Indian startup sector saw a spike in fundraising and valuations last year, with 42 businesses becoming unicorns. The trend continued in the first quarter of 2022, with 14 companies, including DealShare, Polygon, and Games 24×7, becoming unicorns.

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