ShareChat parent Mohalla Tech raises $502mn; now valued at $2.1bn
The Hindu
The funding round also saw participation from Snap Inc, Twitter and India Quotient, amongst others.
Mohalla Tech, the parent company behind Indian social media platforms such as Moj and ShareChat, on Thursday said it has raised $502 million in a funding round led by Lightspeed Venture Partners and Tiger Global, valuing the firm at over $2.1 billion. The funding round also saw participation from Snap Inc, Twitter and India Quotient, amongst others. The new round will be utilised for doubling down on tech initiatives, supporting user growth and improving platform safety features, the company said in a statement. Mohalla Tech, which was founded in 2015, has till now raised over $766 million across six rounds.
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