[Funding Alert] Mitron raises seed funding of Rs 2 Cr from 3One4 Capital and LetsVenture
Indian short-form video app Mitron, hailed by many as India’s answer to now banned TikTok, has received seed funding of Rs 2 crore from 3One4 Capital and LetsVenture. Before the ban on 59 Chinese apps, Mitron gained popularity for being a 'Made in India' app and, at the same time, TikTok’s rating fell to around two points. On June 2, Google decided to remove Mitron app from the Store "due to violation of its ‘spam and minimum functionality’ policy". According to the platform, the short video-sharing app reached the milestone from 550,000 downloads in 10 days. Recently, ZEE5 launched TikTok-like short video platform HiPi within its app, which lets users create 90-second videos.