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

Home-grown social media firm Mohalla Tech, which owns ShareChat platform, on Sunday said it has raised Rs 134 crore, or $ 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 $ 65 million.

“ShareChat expands its convertible debentures round to $ 65 million, as Singapore-based EDBI joins the round,” the company said in a statement.