WHEN ShareChat RAISED $100 MILLION FUNDING
ShareChat which is a start-up in the form of a social platform for regional languages, announced that in the company’s Series D round of funding it has raised $100 million. Two of its newest investors that joined this latest funding round are Twitter and TrustBridge.
This new series of funding brings the total capital secured till date by ShareChat to $224 million. Some of the already joined investors of the company are Shunwei Capital, India Quotient, Morningside Venture Capital, SAIF Capital, and Lightspeed Venture Partners.
The company plans to use this new round of funding to strengthen the technology infrastructure for its platform and to acquire talent that will help propel the exchange of ideas among the company’s strategic partners.
Talking about the new series of funding for the company, CEO, Ankush Sachdeva, says, “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 is a Banglore based start-up. It was founded by Ankush Sachdeva, Bhanu Pratap Singh and Farid Ahsan in 2015. It is an Indian Social networking service, developed by Mohalla Tech Private Limited.
The CEO and founder of StartupLanes, Shishir Gupta says, “The heavy funding in the D Series of the company will not only bring the company new talent and more resources but it will also enable the social platform to spread even further and help people socialise in their own vernacular languages.”
The expansion of India based social platforms enables people to express themselves better because it has the window to inculcate local and regional lingo that is absent in other internationally developed social platforms.