Mohalla Tech, parent company of ShareChat & Moj, raises $502 million

ShareChat will use the latest fund to expand in India and the US, and strengthen its artificial-intelligence powered recommendation engine, platform health and creator community

Mohalla Tech, the company that owns short-video app Moj and Indic language social media platform ShareChat, is the latest to join the unicorn club with a latest fundraise of $502 million, valuing the company a little over $2.1 billion.

The investment was led by Lightspeed Ventures and Tiger Global, along with participation from Snap Inc, Twitter and India Quotient amongst others, the firm said in a statement.

“We are at an exciting inflection point in our journey, where we are going after a massive opportunity with the right team in place and the backing of long-term investors who have a deep conviction