Dhingana, a social music streaming service, has received $7 million in a Series B round funding led by Lightspeed Venture Partners. Series A investors Inventus Capital Partners and Helion Venture Partner also participated in the round.
Commenting on this, Snehal Shinde, Co-founder and CEO of Dhingana said,“India is one of the world’s largest markets and has a unique culture with its music enjoyed throughout the world. We plan to use the current funds to build an even stronger team to innovate further and expand our marketing, sales and business development efforts.”
As a part of this deal, Lightspeed Venture Partners principal Dev Khare will be joining Dhingana’s Board of Directors. Khare has extensive experience in Silicon Valley, where he has advised a significant number of mobile start-ups.
Khare said, “We are impressed with the level of product execution and audience growth at Dhingana. 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.”
Dhingana has 15 million monthly active visitors worldwide. Its music catalog features 500,000 songs spanning 35 languages across numerous genres. The users of Dhingana can access this catalogue on-demand through Dhingana’s HTML5 site and apps for iPad, iPhone, BlackBerry, Android devices and Nokia phones.
Dhingana was launched in 2007, by twin brothers, Snehal and Swapnil Shinde, former employees of Yahoo and Symantec. Since then it has become the largest on-demand music service in India. It is the largest cloud-based Indian music streaming service with over 10 million active listeners in 220 countries around the globe. Features like social radio, custom playlists and the ability to share music preferences with friends, provides visitors with the most personalized listening experience.