Content-sharing platform ShareChat said it had raised $266 million in fresh funding from U.S.-based Alkeon Capital and some existing investors, pushing its valuation to $3.7 billion, according to Reuters report.
The new investments, part of ShareChat’s third funding round this year, was led by Alkeon and saw participation from Singapore’s Temasek Holdings and Moore Strategic Ventures, among others, the company said in a statement.
“Both our products have been leading the market … This fresh funding will further strengthen our position and help us deliver immersive social experiences,” Ankush Sachdeva, ShareChat’s CEO, said in a statement.
The company will also use the funds to develop its apps’ artificial-intelligence capabilities, it said.
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