ShareChat, India’s largest regional social media platform, announced today that it has raised fresh round of funding of $100mn in its Series D. Led by Twitter, the company’s existing investors- Shunwei Capital, Lightspeed Venture Partners US, Lightspeed Venture Partners India, SAIF Capital, India Quotient and Morningside Venture Capital along with TrustBridge Partners are a part of this funding round.
ShareChat has raised a total of $224 million as of now. This new round of funding is going to help ShareChat strengthen the technology infrastructure for its platform as the company looks to scale its business. Additionally, ShareChat aims to acquire right talent and propel the exchange of ideas among its strategic partners to utilize its learnings efficiently. To accelerate the internet ecosystem in India, the company will be introducing more features and make the experience seamless across devices.
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 led by Twitter, we are all set to take the next leap in our growth story. As we scale up, our focus remains to help our ShareChat community better express themselves in the comfort of their native language.
“As a communications platform, we saw the potential ShareChat possesses to tap the diverse regional markets in India. The effort of the company to connect the next billion consumers to technology and more, is unmatched. We are excited about this new partnership and are looking forward to some great things from ShareChat in the future.” said Jack Dorsey, CO-Founder and CEO, Twitter.
Tuck Lye Koh, Founding Partner and CEO, Shunwei Capitalsaid, “We are excited to see users creating a lively community with diverse vernacular content on ShareChat. The diversity and depth of user generated content has enhanced the stickiness of the product, and will contribute great business value to ShareChat as a platform. We look forward to the next stage in ShareChat’s evolution.”
Commenting on the strategic funding, Yu Cheng, Partner at Morningside Venture Capitalsaid“We are glad to see ShareChat growing in leaps and bounds. The company has been constantly striving to accumulate consumer insights and is continuing to deliver innovative product experiences to its massive user base. With more strategic and financial investors joining at this round, we are very confident about the company’s compelling growth in the coming year.”
About ShareChat
ShareChat is India’s largest regional social network allowing users to share their opinions, record their lives and make new friends – all within the comfort of their native language. Spearheading India’s internet revolution, ShareChat is changing the way in which the next billion users will interact on the internet.
