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Moj, ShareChat Raise Additional $145 Million To Scale AI Platform
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ShareChat and stock graph are displayed in this illustration taken, July 26, 2021. REUTERS/Dado Ruvic/Illustration
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NEW DELHI, July 27 (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.
The funding signals growing fascination for Indian content-sharing and short-video apps that have become popular ever since New Delhi last year banned ByteDance s TikTok and some other Chinese apps following an India-China border clash.
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.
Moj & ShareChat parent raises additional $145 million in Series F funding
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India s ShareChat raises US$145 million from Temasek, others at near US$3 billion valuation Toggle share menu
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India s ShareChat raises US$145 million from Temasek, others at near US$3 billion valuation
FILE PHOTO: A man uses Indian app platform Sharechat on a mobile phone in New Delhi on Jul 2, 2020. (AFP/Prakash Singh)
27 Jul 2021 12:22PM (Updated:
27 Jul 2021 12:30PM) Share this content
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NEW DELHI: Indian content-sharing platform ShareChat has raised US$145 million in fresh funding from Singapore s Temasek Holdings and two other investors, giving it a valuation of US$2.88 billion, the company told Reuters on Tuesday (Jul 27).
The funding signals growing fascination for Indian content-sharing and short-video apps that have become popular ever since New Delhi last year banned ByteDance s TikTok and some other Chinese apps following an India-China border clash.