ShareChat

With this fifth fund, IndiaQuotient aims to back early-stage founders while expanding its leadership team.

The company’s core social media business turned cash-flow positive, though new investments continued to weigh on profitability.

Venture capital is backing the shift, with Flick TV securing US$2.3 million in seed funding, ReelSaga raising US$2.1 million.

ShareChat plans to build a 30-member team in Singapore, leveraging local AI talent and infrastructure.

ShareChat’s highest workforce was around 2,700 employees at its peak.

Jain will direct the technology development for ShareChat and its short video platform, Moj.

Cautious VCs, vigilant LPs, and concerns of potential down rounds among startups have dampened investor sentiment in India’s flourishing market.

In 50 Words: At US$1.5 billion, the Indian social media unicorn’s likely valuation is less than a third of what it was early last year.

In 50 Words: The company, seen as a TikTok rival in India, gained popularity in the country after the government banned TikTok in 2020.

In On the Rise this week, we spotlight a Vietnam-based sleeptech startup and find out why Tin Men Capital bets on B2B firms during the recession.