Smartphone maker Xiaomi and venture firm Shunwei Capital have signed a term sheet to co-lead a series B round that will value the social media app developer at up to $70m.
Smartphone manufacturer Xiaomi has entered talks to co-lead a $15m series B round for India-based social networking platform ShareChat, Times of India has reported, citing two people aware of the development.
Venture capital firm Shunwei Capital is set to co-lead the round with Xiaomi. A term sheet for the deal has been signed and it is expected to formally close soon. A source told TOI ShareChat is expected to raise the funding at a $65m to $70m post-money valuation.
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