MUMBAI, Aug 16:
Regional social media platform ShareChat on Friday said it has raised USD 100 million in its series D funding with participation from microblogging site Twitter and private equity firm TrustBridge Partners.
Existing investors including Shunwei Capital, Lightspeed Venture Partners, SAIF Capital, India Quotient and Morningside Venture Capital also participated in the funding round.
To date, ShareChat has raised a total of USD 224 million, it said in a statement.
“This new round of funding will help ShareChat strengthen the technology infrastructure for its platform as the company looks to scale its business. Additionally, ShareChat will acquire talent to help propel the exchange of ideas among its strategic partners,” it said.
To accelerate the internet ecosystem in India, the company will also be introducing more features to make the experience seamless across devices, it added.
“This is a very exciting time for us at ShareChat as we see our platform growing rapidly. With this new round of funding, we are positioned to take the next leap in our growth story. As we scale up, our focus remains to help the ShareChat community better express themselves in the comfort of their native language,” ShareChat CEO Ankush Sachdeva said.
Commenting on the investment, Twitter India managing director Manish Maheshwari said, “Twitter and ShareChat are aligned on the broader purpose of serving the public conversation, helping the world learn faster and solve common challenges.”
This investment will help ShareChat grow and provide the company’s management team access to Twitter’s executives as thought partners, he said. (PTI)
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