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ShareChat Bags $16 Mn Debt Funding From EDBI, Round Size Increases To $65 Mn

Inc42 · 9m

Indian social media platform ShareChat has raised funds by issuing convertible debentures to Singapore-based fund EDBI. The startup previously raised $49 million in April from existing investors including Lightspeed, Temasek, and Alkeon Capital. In addition, ShareChat recently downsized its workforce, letting go of around 40 employees due to poor performance.