Bengaluru (Karnataka): Regional social media platform — ShareChat — said on Friday that it has raised a new round of funding of 100 million (about Rs 700 crore) in its series D.
“With this new round of funding, we are positioned to take the next leap in our growth story,” said its Chief Executive Officer Ankush Sachdeva.
“As we scale up, our focus remains to help the ShareChat community better express themselves in the comfort of their native language.”
Till date, ShareChat has raised a total of 224 million dollars (about Rs 1,570 crore). Existing investors participating in the new 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.
This new round of funding will help ShareChat strengthen the technology infrastructure for its platform as the company looks to scale its business. Besides, 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 introduce more features to make the experience seamless across devices, it said in a statement. (ANI)
