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India’s ShareChat raises $145mn fresh funding from Singapore’s Temasek
- Tuesday | 27th July, 2021
NEW DELHI (Reuters) – Indian content-sharing platform ShareChat has raised $145 million in fresh funding from Singapore’s Temasek Holdings and two other investors, giving it a valuation of $2.88 billion, the company told Reuters on Tuesday. ShareChat allows users to post content in 15 Indian languages. After TikTok was banned, the Indian firm also launched a similar short-video sharing app named Moj which has since become popular and clocked millions of downloads. The latest investments come around four months after ShareChat raised $502 million from Tiger Global, Snap Inc, Twitter and some others, which at the time valued it at just over $2.1 billion. Moj has 160 million users and counts Facebook’s Instagram Reels as its top rival.
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