Messaging platform Hike Messenger has announced USD 175 million fund raising in a new round of funding led by Tencent Holdings and Foxconn Technology Group.
Messaging platform Hike Messenger has announced USD 175 million fund raising in a new round of funding led by Tencent Holdings and Foxconn Technology Group. This has been the fourth venture capital round and the biggest so far for Hike, which is founded by Kavin Bharti Mittal, the son of Bharti Enterprises chairman Sunil Mittal. Existing investors in the round also included Tiger Global, Bharti and Softbank Group.
The company said it is looking at acquisitions in technology and people, but ruled out an IPO in near future.
The latest round of funding takes the total investment to over USD 250 million so far. “The funds will be utilized in services, people, office space and some long term bets in areas of machine learning, computer vision,” said Kavin Mittal. Earlier in January 2016, Hike had announced its base of 100 million users out of which 95 percent are based in India and 90 percent are young and below the age of 30.