How Chingari Is Using Blockchain to Revolutionise India’s Social Media



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This week in Indian startup news, Chingari on blockchain - launches its own NFT marketplace and crypto token, Ola’s top executives leave as they plan to re-enter grocery delivery, SEBI approves Nykaa and PolicyBazaar’s IPO and Good Glamm Group acquires ScoopWhoop.

In funding news, PharmEasy raises nearly $350 million, CRED raises $251 million, SUN Mobility raises $50 million and CredAble raises $30 million.

00:00 Introduction
00:13 Chingari on blockchain - launches its own NFT marketplace and crypto token
05:21 Ola’s top executives leave as they plan to re-enter grocery delivery
06:43 SEBI approves Nykaa and PolicyBazaar’s IPO
07:49 Good Glamm Group acquires ScoopWhoop
08:34 India’s startup ecosystem raises $10.9 billion in Q3 of 2021 – a new record
09:31 PharmEasy raises nearly $350 million
10:33 CRED raises $251 million
11:37 SUN Mobility raises $50 million
12:03 CredAble raises $30 million

Chingari on blockchain - launches its own NFT marketplace and crypto token: Short-video platform Chingari has launched their own NFT marketplace and crypto token called ‘$GARI’ – which is built on the Solana blockchain. This is will allow all the content on Chingari to be turned into an NFT – allowing the creators to earn money by selling their NFTs using their own crypto token ‘$GARI’.

Ola’s top executives leave as they plan to re-enter grocery delivery: Ola is restructuring their senior management as two of their top executives leave the company and they plan to further diversify their business to re-enter the grocery delivery business in a bid to strengthen their revenues.

SEBI approves Nykaa and PolicyBazaar’s IPO: SEBI has approved Nykaa and PolicyBazaar’s IPO and Nykaa is planning to raise around Rs 5,300 crore as they go public by the end of this month.

Good Glamm Group acquires ScoopWhoop: Good Glamm Group, which owns D2C beauty care brand MyGlamm, has acquired a new age digital media company ScoopWhoop. This acquisition will strengthen the Good Glamm Group’s content-to-commerce strategy – ScoopWhoop is a popular digital media platform that has more than 100 million users and their content gets 1.5 billion impressions every month.

PharmEasy raises nearly $350 million: Online pharmacy unicorn PharmEasy has raised close to $350 million from their investors as they gear up for their upcoming IPO.

CRED raises $251 million: Fintech giant CRED has raised $251 million from Tiger Global Management and Falcon Edge Capital – bumping their valuation up to $4.01 billion from $2.2 billion a few months back.

SUN Mobility raises $50 million: SUN Mobility, an electric vehicle infrastructure provider, has raised $50 million from dutch energy and commodities trading company Vitol to expand the number of battery swapping stations from 65 to 500 by the end of 2022.

CredAble raises $30 million: CredAble, a fintech startup focused on supply chain financing, has raised $30 million in a round led by Plutus Management and Oaks Asset Management.

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