Friday, September, 20, 2019 03:35:24

ShareChat, India-based social media platform has announced that it has raised $100 million in its new Series D funding round. Twitter and TrustBridge are the new firms to contribute to this latest funding round.

The company has managed to raise a total of $224 million till date. Some of the existing investors who contributed to this round of funding include Lightspeed Venture Partners, Shunwei Capital, SAIF Capital, Morningside Venture Capital, and India Quotient.

Given that ShareChat wants to expand its business, the new round of funding will help boost the technological infrastructure for its social media platform. Additionally, the company will hire talent for effortless exchange of ideas among the strategic partners.

Reportedly, in order to propel the internet ecosystem in India, ShareChat will be introducing more features to the social media platform for improved user experience across multiple devices.

Ankush Sachdeva, CEO of ShareChat said that it is very thrilling to see such rapid growth of the social media platform, this new round of funding will further fuel the growth story. Further, he emphasized on how the platform will be made more accessible to the native language community, as the company plans expansion.

Additionally, Manish Maheshwari, Managing Director of Twitter India expressed his views on how both the companies have been associated on the broader purpose of serving public conversation, which will help the world learn faster by solving some of the common challenges. He also said that this investment will not only help ShareChat grow faster but will also grant the company’s management team the much need access toward the Twitter’s executives.

Furthermore, some other strategic partners were also seen concluding on how this funding will positively affect ShareChat’s expansion.

Ravi Mhatre, Founder & Managing Director of Lightspeed Venture Partner said that Lightspeed will continue supporting ShareChat in every funding round, from series A to series D and even beyond. The funding will help the company to consolidate its position among top social media platforms by serving India’s diverse and multilingual population.

Source Credit:

https://www.livemint.com/technology/tech-news/sharechat-raises-100million-in-series-d-funding-1565923375916.html