Private Equity

PE Fund Investments

Short video platform ShareChat raises $266-M in from Alkeon Capital, others at $3.7 B valuation

MyBigPlunge  

Mohalla Tech, the parent company of short video platform Moj and regional language social networking app ShareChat, has raised USD 266 million (about INR 2,028.3 crore) from Alkeon Capital and others, valuing the company at USD 3.7 Billion. The Series G round also saw participation from new and existing investors including Temasek, Moore Strategic Ventures (MSV), Harbourvest and India Quotient. The fresh funds are expected to be used to build deep capabilities in areas such as social and live commerce, growing its AI/ML team spread across the US, Europe and India. This is the third round of funding for the Unicorn startup in 2021 raising USD 913 million. It had raised USD 145 million in July at a valuation of USD 2.88 billion. Earlier, in April, it had raised USD 502 million at a valuation of over USD 2.1 billion. Founded in 2015, Mohalla Tech has now raised over USD 1.177 billion across eight rounds.