homevideos Newsstartup NewsSharechat’s parent co to raise funds; Gokwik bags Rs 112 crore in Series A funding
Sharechat’s parent co to raise funds; Gokwik bags Rs 112 crore in Series A funding
Post fund-raise ($500 mn), the parent company of Sharechat, which also runs short-video platform Moj, will be valued at over $5 bn, sources tell CNBC-TV18. Also, Shantanu Naidu, founder of GoodFellows, talks about his start-up that provides intergenerational friendship to lonely seniors by employing young, educated graduates up to the age of 30.
Sharechat's parent company Mohalla Tech is set for fund-raising. The parent company, which also runs short-video platform Moj, is in the process of raising $500 million and will be valued north of $5 billion, sources tell CNBC-TV18.
The round will be led by new and existing investors, though CNBC-TV 18 could not confirm the names of the new investors. Sharechat counts Temasek, Snap Inc, Tiger Global, Moore Strategic Ventures, and Twitter, among existing investors.
Sharechat's valuation is expected to cross $5 billion post-funding. It was last valued at $2.8 billion in July after it has raised $145 million, and in April it had turned Unicorn when it was valued at $2.1 billion after raising $500 million in funding. The company competes with Dailyhunt's Josh and InMobi's Roposo, apart from chingari and a few other players.
Meanwhile, Gokwik, an e-commerce enablement start-up, has raised Rs 112 crore in A-Series funding, a round led by Sequoia Capital India; existing investors Matrix Partners India and RTP Global also participated. The company plans to use the funds to work with large marketplaces, rapidly scale up its teams and launch new products.
To discuss the fund allocation and future growth plans CNBC-TV18 spoke to Gokwik’s co-founder and CEO, Chirag Taneja.
According to the 2011 census, almost 15 million seniors in India live alone. While they might find ways to fulfil their utility needs, the empty nest syndrome often leaves them isolated. To provide companionship to these elders, 28-year-old Shantanu Naidu has started GoodFellows, an upcoming for-profit start-up that provides intergenerational friendship by employing young, educated graduates up to the age of 30 who create companionship between them and the elderly to reduce their loneliness.
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To talk to us about how the "grandkids on demand" will help dispel the loneliness from the lives of the Grandpals they are assigned to, CNBC-TV18 caught up with the founder of GoodFellows, Shantanu Naidu.
For all the discussions, watch the accompanying video
(Edited by : Thomas Abraham)
First Published: Nov 22, 2021 8:20 PM IST
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