ShareChat’s Latest Funding Round Brings Seven-fold Rise in its Valuation
The social platform for regional language known as ShareChat has secured funds amounting to Rs 720 crore ($99 million) in a funding round. The particular round was led by existing backer Shunwei Capital. The other investors that participated in the round included Morningside Ventures of China and Jesmond Holdings, an affiliate of Russian billionaire Yuri Milner’s DST Global.
Following this funding round, the valuation of the company will get a boost and will reach to Rs 3,332 crore ($460 million) according to the documents filed with Registrar of Companies.
With the funds raised, the company plans to foray deeper in markets like the Northeast, and also start working on monetizing its service next year through activities like advertising, influencer marketing, and in-app transactions....