InvestorQ : Why has Share Chat been raising funds from PE investors?
manisha Kolvenkar made post

Why has Share Chat been raising funds from PE investors?

Answer
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Crowny Pinto answered.
1 month ago


India’s home-grown content sharing platform, Share Chat announced it had raised $40 million in Pre-Series funding from the family offices of Pawan Munjal and Ajay Shriram. They represent the promoter families of Hero Motors and DCM Shriram respectively.

Share chat already boasts of marquee investors on its roster like Twitter, SAIF Partners and Lightspeed Ventures. These 3 original investors have also participated in the current round of investment. With the ban on Chinese apps, Indian home grown apps have seen a spurt.

The funds will be used by Share Chat to drive growth for the company's newly launched video platform Moj. The video platform, the company numbers confirm, has been on a frenetic growth trajectory since its recent launch in India.

Share Chat has benefited substantially from the blanket ban on Chinese apps. India banned Chinese online apps in two rounds citing major concerns over security and data shipping out of India. Share Chat has been a major gainer in the process.