India's ShareChat, Moj Raise US$145 Million From Temasek, Moore Strategic Ventures
July 27 2021 - 5:01AM
Dow Jones News
By Justina Lee
Twitter Inc.-backed Indian social media platforms ShareChat and
Moj have raised US$145 million in a new funding round that values
them at US$2.88 billion.
The latest round was led by Singapore state investment fund
Temasek Holdings and U.S.-based private equity firm Moore Strategic
Ventures, ShareChat and Moj's parent company, Mohalla Tech, said in
a statement Tuesday. A venture between South Korean web portal
Naver Corp. and Mirae Asset also participated.
The 15-language ShareChat platform has more than 180 million
monthly active users, and also owns short-video app, Moj.
Mohalla Tech, which also counts Twitter as an investor, has now
raised more than US$911 million in seven fundraising rounds,
including US$502 million in April. Funding will go toward building
artificial-intelligence capacity and attracting a diverse creator
base, the company said.
The fresh investment comes as Indian-based social media apps
gain attention in India, following Delhi's ban last year of Chinese
apps, such as ByteDance's TikTok, amid border clashes between the
two countries.
Write to Justina Lee at justina.lee@wsj.com
(END) Dow Jones Newswires
July 27, 2021 05:56 ET (09:56 GMT)
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