Indian messaging app Hike has secured a $175 million financing at a valuation of $1.4 billion. The company has now raised a total of $261 million in funding since its founding in 2012, which includes a $65 million round in August 2014.
Although the round size and valuation are notably large, the investors that participated may be the most interesting part of the financing. The round was led by Foxconn Technology Group and Tencent, the parent company of dominant Chinese messaging app WeChat.
With refilled coffers and powerful investors, Hike looks set to scale and expand its offering. While India is currently dominated by Facebook’s WhatsApp, Hike differentiates itself by targeting the younger generation with features like integrated mobile games and localized stickers—things WhatsApp currently lacks. Hike's investors also include SoftBank and Tiger Global.