Twitter has invested in Bengaluru-based regional social network ShareChat's $100 million Series D funding round. Apart from Twitter, the round saw participation from another new investor Trustbridge. Existing investors namely Shunwei Capital, Lightspeed Venture Partners, SAIF Capital, India Quotient and Morningside Venture Capital also participated in this round. According to the company, this funding will be used for developing its technology infrastructure, onboard new talent and introduce more features. ShareChat said that with this, it has raised a total of $224 million till date. ShareChat's focus on regional language ShareChat was founded in 2015. It is an Indic language social networking app which puts together features of WhatsApp, Facebook and Instagram, and targets the non-English conversant users in India. It allows users to make posts to a ‘wall’, add images, GIFs, videos and audio clips, view posts from others, add and follow friends, and so on. It also has a ‘treasure’ section, where it lists posts based on categories like romantic, humorous etc. It also lists news, horoscopes, daily tips, devotional services and other miscellaneous services. The app offers services in regional languages such as Hindi, Marathi, Gujarati, Punjabi, Malayalam, Telugu, Bengali, Tamil, Kannada, Odia, Assamese, Bhojpuri, Haryanvi and Rajasthani. Previous funding rounds In September 2018, ShareChat had raised Rs 720 crore in a round led by existing investor Shunwei Capital. Morningside Ventures of Hong Kong, Jesmond Global, an affiliate of DST Global, Xiaomi, SAIF Partners and Lightspeed Venture Partners also participated in the round. The funding was raised to develop its core product offering to diversify into other…
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Twitter invests in Sharechat’s $100 million Series D funding round; Sharechat’s policy position on online platform regulation
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