ShareChat Parent Company Mohalla Garners $266 Million from Alkeon Capital
Mohalla Tech Private Limited, based in Bengaluru and home for ShareChat and Moj, has garnered $266 million in its Series G fundraising round. Alkeon Capital led the current round of fundraising, which included new and existing investors such as Singapore's Temasek, India Quotient, Harbourvest, and Moore Strategic Ventures.
Within five months of this financing round, ShareChat's valuation had risen by 32% to $3.7 billion. It was valued at $2.8 billion during its Series F financing.
Temasek, Moore Strategic Ventures, and Mirae-Naver Asia Growth Fund led a $145 million Series F fundraising round for ShareChat in July (a joint venture by Mirae Asset and South Korean web portal Naver Corp).
In April of this year, ShareChat joined the illustrious unicorn club. At a valuation of $2.1 billion, the social media business raised $502 million in a Series E round headed by US hedge fund Tiger Global and Lightspeed Ventures. Snapchat, Twitter, and India Quotient were among the companies that took part in this round.
The social media unicorn has raised $913 million in 2021 alone, bringing its total funding to $1.77 billion.
The funds raised in this round will be used to improve social and live commerce, increase the start-up's AI/ML team, and expand its operations across the US, Europe, and India, according to the company.
ShareChat is an Indic language social networking platform founded in 2015 by Ankush Sachdeva, Bhanu Singh, and Farid Ahsan. The startup claims that its users spend an average of 31 minutes per day on the platform. Moj and ShareChat have a combined user base of 340 million people.
ShareChat is currently India's most valuable social media network. It features Chingari, Mitron, and Josh from DailyHunt, among others. ShareChat competes with Facebook's Instagram, Snapchat, and TikTok on a worldwide scale.
Within five months of this financing round, ShareChat's valuation had risen by 32% to $3.7 billion. It was valued at $2.8 billion during its Series F financing.
Temasek, Moore Strategic Ventures, and Mirae-Naver Asia Growth Fund led a $145 million Series F fundraising round for ShareChat in July (a joint venture by Mirae Asset and South Korean web portal Naver Corp).
In April of this year, ShareChat joined the illustrious unicorn club. At a valuation of $2.1 billion, the social media business raised $502 million in a Series E round headed by US hedge fund Tiger Global and Lightspeed Ventures. Snapchat, Twitter, and India Quotient were among the companies that took part in this round.
The social media unicorn has raised $913 million in 2021 alone, bringing its total funding to $1.77 billion.
The funds raised in this round will be used to improve social and live commerce, increase the start-up's AI/ML team, and expand its operations across the US, Europe, and India, according to the company.
ShareChat is an Indic language social networking platform founded in 2015 by Ankush Sachdeva, Bhanu Singh, and Farid Ahsan. The startup claims that its users spend an average of 31 minutes per day on the platform. Moj and ShareChat have a combined user base of 340 million people.
ShareChat is currently India's most valuable social media network. It features Chingari, Mitron, and Josh from DailyHunt, among others. ShareChat competes with Facebook's Instagram, Snapchat, and TikTok on a worldwide scale.
