Key Highlights
- Hyderabad-based microdrama OTT platform Chai Shots raises $5 million from General Catalyst and InfoEdge.
- Chai Shots, created by Chai Bisket team, offers short regional videos under two minutes.
Hyderabad-based microdrama over the top (OTT) platform Chai Shots is raising $5 million in its first funding round.
A source stated, "General Catalyst and Info Edge are in advanced stages of closing a new funding round in Chai Shots." "A small number of angel investors might also take part."
Chai Shots is a streaming service that offers short videos in multiple Indian languages, with episodes lasting less than two minutes. The platform was developed by the same team that created the well-known digital media and storytelling business Chai Bisket.
Over the course of nine years, the Chai Bisket team has developed a content ecosystem that includes reels, podcasts, movies, and local stories on sites like Chai Shots, First Show, Mutiny Talent, and Studio Panchatantra.
Currently under development, the Chai Shots platform is anticipated to launch shortly.
According to a different source, "it may take a few weeks for the official launch and funding announcement." The individual added that there is increasing interest in this field and that some more startups will probably raise money in the near future.
Also Read: Funding for Indian Startups Hits $219 million in a Week! Udaan Leads the Race
Similar startup Flick TV raised $2.3 million earlier this week in seed funding led by Stellaris Venture Partners, with Titan Capital and Gemba Capital also contributing. Additionally, Reel Saga, Reelies, QuickTV from ShareChat, and Kuku TV from Kuku FM will compete with Chai Shots.
To increase early-stage investments in India, General Catalyst and Venture Highway, a venture capital firm with a focus on the country, merged in June of last year. Since then, General Catalyst has contributed to the initial funding rounds of PB Healthcare, Primus Senior Living, and Mukesh Bansal's Nurix AI.
