The parent company of Moj and ShareChat, Mohalla Tech, has raised $145 million as an extension of its Series F funding. This comes after the $502 million raised by Mohalla in April. The company is now valued at $2.8 billion. The investment round was led by Singapore 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.
The company will use the funds to step up its attempts at building world-class AI feed, attracting and incentivising a diverse creator base and amplifying platform health and safety. Senior executives in AI/ML spaces have also been hired in the UK and US. Mohalla continues to look for more senior talents, it said.
CEO and co-founder of Moj and ShareChat Ankush Sachdeva 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.”
Sachdeva added that the company has a monthly active user base of 160 million and over 50 million strong creator community. “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 monetise on the platform,” he added.
Mohalla Tech has raised over $911 million across seven fundraising rounds, enabling Moj and ShareChat to grow. Short video app Moj scores over 4.5 billion views daily with average user time at 34 minutes. Indic language social media platform ShareChat sees an average user time of 31 minutes daily. Together they have a 340 million user base.
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