India’s WhatsApp rival Hike raises $175 million

The homegrown messaging platform has 100 million customers in India.

Indian messaging startup Hike Messenger has raised greater than $one hundred seventy five million in a funding round led via Tencent Holdings restricted and Foxconn technological know-how team that values the manufacturer at just about $1.4 billion.

The company, which expenditures itself as India’s handiest homegrown messaging platform, has thus far raised $250 million overall in 4 rounds of funding, the fourth being the highest, the enterprise stated in a declaration on Tuesday.

Its existing investors SoftBank workforce, Bharti organizations and Tiger international also participated within the fourth circular.

The homegrown messaging platform has 100 million customers in India out of which 95 percentage are Indians. “Hike customers, on an ordinary, exchange 40 billion messages monthly and spend 120 minutes per person per week on the platform,” the company said within the assertion.

“the brand new fund elevate goes to enable us to push Hike to larger heights and invest in areas with a view to be key to our long run vision and success,” stated Kavin Bharti Mittal, founder and chief government of Hike.

Its greatest competitor in India is facebook Inc owned WhatsApp.