Dhingana Raises $7 Million In Funding
Dhingana is a startup that has free streaming Indian and Bollywood music. The company has raised $7 million in a Series B round of funding. Dhingana has 500,000 songs in their catalog across 35 languages. The website also has a smartphone app. Dhingana receives 15 million monthly active visitors and 40% of them are located outside of India.
This Series B round of funding was led by Lightspeed Venture Partners. Other investors that participated in this round that were previous investors include Inventus Capital Partners and Helion Venture Partners. Dev Khare of Lightspeed will be joining the Dhingana board of directors.
“We believe that a country as large and diverse as India, with numerous languages and rich classical, folk, popular and movie music traditions, supports a world-class, branded music service tuned to the needs of its increasingly mobile-centric population,” stated Mr. Khare.
Dhingana started in 2007 and spent the first few years building their content library. Now they are working on a monetization plan that includes launching an ad platform. Facebook product director for advertising Gokul Rajaram is now an advisor at the company as well.@amitchowdhry or on Google+ at +AmitChowdhry