One of the nation’s leading regional language based social networking app ShareChat has raised near about 4 million USD in a fundraising event through the help of existing investors as well as fund leader Lightspeed India Partners. The Series A funding led by Lightspeed Partners helped raise the amount along with other venture capitalists and investors like SAIF Partners, India Quotient, Venture Highway, and so on.

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Entire team of ShareChat

Founded by Farid Ahsan, Ankush Sachdeva and Bhanu Singh (IIT-K alumni), ShareChat was launched in 2015 so as to provide chatting, sharing and conversing facility in their mother tongue. The exclusive social networking app completely focuses on major Indian languages such as Hindi, Telugu, Malayalam, Marathi, Gujarati, and Punjabi. Tamil and Bengali are under management and private beta which will be available very soon for its 2 million users who are already using the app on a daily basis for conversation. The app has already been downloaded 3.5 million times where its active users share and chat in and around 1 million content per day.

Tamil and Bengali are under management and private beta which will be available very soon for its 2 million users who are already using the app on a daily basis for conversation. The app has already been downloaded 3.5 million times where its active users share and chat in and around 1 million content per day. It allows users to create, chat, share, as in the video, jokes, images, audio songs, etc.

The respective startup company had earlier raised as much as 1.35 million USD in October 2015 with an extra amount of $50,000 under its equity-free Seed funding, and with the 2nd round of Series A funding, the net amount closes to almost 6 million USD. Initially started off as content repository app for WhatsApp, it created itself as a separate entity last year after the huge success it received instantly.

According to Bhanu Singh, Chief Technical Officer and Co-Founder, ShareChat, It is always a great feeling to be backed by good investors who understand the space. But procurement of capital does not ensure the success of business, though being the lifeline considering we have a limited focus on revenue. The battle only goes uphill from here. 

Funds raised by ShareChat will help in introducing new languages along with intruding deep into vernacular eco-system. Providing service to its target audiences cold be raised in a higher extent allowing users to delve into an enirely new spectrum and all in theri own language or mother tongue. Adding up more infotainment to the app will help in user expansion based exclusively in India.

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