MUMBAI, Aug 16:ShareChat, India’s largest regional social media platform, said it has raised a new round of funding of USD100mn in its Series D.
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. To accelerate the internet ecosystem in India, the company will also be introducing more features to make the experience seamless across devices.
To date, ShareChat has raised a total of USD224 million. Existing investors participating in this round include Shunwei Capital, Lightspeed Venture Partners, SAIF Capital, India Quotient and Morningside Venture Capital. Twitter and TrustBridge Partners are two new investors joining this latest funding round.
Ankush Sachdeva, CEO, ShareChat said, “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.”
Manish Maheshwari, Managing Director, Twitter India 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.”
(UNI)
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