Enterprise messaging platform CometChat has raised Rs 40 crore in a venture debt funding round led by Utah-based Zions Venture Fund.

The company said the funds raised would expand its product offerings, strengthen its presence in Europe and significantly expand data centres in the Asia-Pacific region, including India.

Anuj Garg, Co-Founder and CEO of CometChat said: “Our goal is to raise funds for a 5-year runway extension as we put our growth plans on the fast track.”

CometChat has raised over Rs 145 crore and is backed by investors like Signal Peak, Matchstick, Range, and Unbound Ventures.

“We will continue to invest in hiring the best talent and creating more localized options. We will also continue to invest in our go-to-market functions to build out customer success, customer key account management, our sales and business development processes and people In India,” Garg said.

While the initiative in India is still in its infancy, the company has seen significant adoption from top Indian corporate and technology media companies running pilots or using CometChat to go live, he said.