ShareChat will be able to build up the technology infrastructure through this new funding round which will help the company to scale up its business
The official logo of social media platform ShareChat
ShareChat, which is India's largest social media platform regionally, made an announcement today that it has raised a brand new round of funding of USD 100 million in its Series D.
A total of USD 224 million has been raised by ShareChat to date. Some of the investors who are currently participating in this round include Lightspeed Venture Partners, Shunwei Capital, SAIF Capital, Morningside Venture Capital and India Quotient. The two latest investors to join this funding round are Twitter and TrustBridge Partners.
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ShareChat will be able to build up the technology infrastructure through this new funding round which will help the company to scale up its business. In addition to this, ShareChat will also have talent acquisition that can help in propelling idea exchange among its strategic partners.
In order to help in accelerating the internet ecosystem in the country, the company will help in creating a seamless experience across devices by the introduction of additional features.
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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.”
Ravi Mhatre, Founder & Managing Director, Lightspeed Venture Partner said,“Lightspeed is excited to continue to support ShareChat in every financing round – Series A through the current Series D, and beyond. We feel the company has a special opportunity to consolidate its position as the defining media platform to engage India’s diverse, multicultural and multilingual population.”
Anand Lunia, Partner, India quotient said, “Today, ShareChat stands for opportunities, learning, entertainment, and a lot more. In a very short span of time, the platform has become the heartbeat of Bharat and hence it is playing a pivotal role in impacting the lives of consumers across the country. This round will give us the wherewithal to build some of the use cases of the platform and further connect the next million users to the benefits of the technology.”
Commenting on the strategic funding, Yu Cheng, Partner at Morningside Venture Capital said, “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.”
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