ShareChat’s parent company, Mohalla Tech, has raised about $300 million in fresh funding from tech giant Google, media behemoth Times Group, and Singapore-based firm Temasek Holdings.
The new round of funding has taken the valuation of the social media platform from $3.7 billion to nearly $5 billion. The deal is set to be officially announced early next week, the sources said. This investment marks Google’s second key investment in India in the short video space. It previously backed Josh platforms, which compete with ShareChat’s sister platform Moj.
The ShareChat app has 180 million monthly active users. The firm also has Twitter and Snap on its investor list.