Indian social media platform ShareChat raised $48.8m in funding led by Tencent and Lightspeed amid funding winter.

Indian social media platform ShareChat raised $48.8m in funding led by Tencent and Lightspeed, despite the ongoing funding winter. The platform aims to reach profitability in 12-15 months. ShareChat's revenue increased by 59% to ₹553 crore ($71.5m) in FY23, but its net losses rose by 72% to ₹5,144 crore ($664m) due to increased server rents, financing costs, foreign exchange losses, and other factors.