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Vernacular social networking app, ShareChat running under Mohalla Tech Pvt. Ltd., has raised $100 million (around INR 720 crore) in a fresh round of funding. The round was led by Shunwei and Xiaomi, which were joined by Morningside, DST, Lightspeed, SAIF Partners, India Quotient and Venture Highway.
Link Legal India Law Services acted for ShareChat and the team was led by Partner Manish Gupta along with Principal Associate Vinu Peter and Associate Rashi Singh.
ARA Law and Gunderson acted for Shunwei, Xiaomi and Lightspeed US.
Post investment, the social networking startup is valued at around INR 3,332 crores ($460 million). The startup’s valuation has increased more than seven fold since its last valuation of INR 431 crores ($67 million), post series B round, reported Newskart.
The app currently offers content in Hindi, Marathi, Gujarati, Punjabi, Telugu, Malayalam, Tamil, Bengali, Odia, Kannada, Assamese, Bhojpuri, Haryanvi, Rajasthani languages.
ShareChat has more than 8 million daily active users with over 10 million downloads on Google Play Store.