ShareChat raises Rs 134 crore from Singapore-based EDBI; lays off 5% staff ...Middle East

Home-grown social media firm Mohalla Tech, which owns ShareChat platform, on Sunday said it has raised Rs 134 crore, or USD 16 million, through debt bonds from Singapore-based investment firm EDBI. With this fresh fundraise the company has expanded its ongoing convertible debentures round to USD 65 million. "ShareChat expands its convertible debentures round to USD 65 million, as Singapore-based EDBI joins the round," the company said in a statement. In April this year, ShareChat raised USD 49 million via convertible debentures in the funding round led by existing investors Lightspeed, Temasek, Alkeon Capital, Moore Strategic Ventures, and HarbourVest, amongst others. The company has also re

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