MOHALLA TECH RAISES $145 MN FROM TEMASEK AND OTHERS

NEW DELHI: Mohalla Tech—the parent company of social platforms Moj and ShareChat—on Tuesday said it has raised $145 million (about ₹1,078.3 crore) in funding from Temasek, Moore Strategic Ventures (MSV) and Mirae-Naver Asia Growth Fund at a valuation of $2.88 billion.

The latest fund infusion is an extension of Series F and is in addition to the $502 million investment received in April this year, a statement said.

“Investments raised this year, including this additional capital infusion, will help the company double down its strategic priorities of building best in class AI Feed, attracting and incentivising diverse creator base and amplifying platform health and safety,” it added.

Moj and ShareChat together, with a 340 million-strong user community, envision building a cohesive AI-powered content ecosystem to address India’s growing digital needs, it added.

Ankush Sachdeva, CEO and co-founder of Mohalla Tech said this additional investment for Series F is a reflection of investor trust in the company’s execution capabilities.

“We are immensely proud of what we have been able to achieve with Moj and ShareChat in the last 12 months. With a monthly active user base of 160 million and over 50 millionstrong creator community, Moj in a year has grown into India’s number one short video app,” he added.

To strengthen its leadership position, the company will continue to invest in AI capabilities, and scaling global AI setup.