startup | IST

Moj, ShareChat raise additional $145 million in Series F funding, valuation climbs to $2.88 billion

Founded in 2015, Mohalla Tech, the parent company behind social media platforms Moj and ShareChat, has now raised over $911 million across seven fundraising rounds. The company also said that the monthly active user community has grown to 160 million for Moj and 180 million for ShareChat.

Mohalla Tech, the parent company behind social media platforms Moj and ShareChat, has raised $145 million as an extension of its Series F round, at a valuation of $2.88 billion.
The investment has been led by Singapore state investor Temasek, Moore Strategic Ventures (MSV) and Mirae-Naver Asia Growth Fund which is jointly set up by Mirae Asset and South Korean web portal Naver Corp. This is an additional investment beyond the $502 million raised in April this year from Tiger Global, Lightspeed, Snap Inc and Twitter, and the company had been valued at $2.1 billion at the time.
The company also said that the monthly active user community has grown to 160 million for Moj and 180 million for ShareChat.
The company said the investments raised this year including this additional capital infusion will help them double down on strategic priorities of building best in class AI Feed, attracting and incentivising diverse creator base and amplifying the platform's health and safety. The company has hired senior executives in the AI/ML spaces in recent months in the UK and the US.
Ankush Sachdeva, CEO & Co-founder, Moj and ShareChat said, “This additional investment for Series F is a validation of our market leadership and a reflection of investor trust in our execution capabilities. We are immensely proud of what we have been able to achieve with Moj and ShareChat in the last 12 months. We have been very fortunate to attract a bunch of very high-quality names in our series F and the list just got longer with Temasek, MSV and Mirae-Naver joining hands with us.”
Sachdeva added, “With a monthly active user base of 160 million and 50+ million strong creator community, Moj in a year has grown into India’s number one short video app. To strengthen our leadership position, we will continue to invest in our AI capabilities, scaling our global AI org, building advanced editing tools and helping our creators monetize on the platform.”
Founded in 2015, Mohalla Tech has now raised over $911 million across seven fundraising rounds.
James McIntyre, Senior Managing Director and COO at MSV said: “We are excited to partner with Moj as they build India’s premier short-form video platform, and have been impressed by this management team’s speed and agility in capturing the opportunity. This round will help to accelerate that growth and allow Moj and ShareChat to continue to develop the best ecosystem for content creators and consumers alike.”