ShareChat parent raises fresh funds, becomes fifth unicorn this week

Joins the club with its latest fundraise of $502 million, valuing the company at a little over $2.1 billion

In a week that saw the making of unicorns, short video app Moj and Indic language social media platform ShareChat parent Mohalla Tech joined the club with its latest fundraise of $502 million, valuing the company at a little over $2.1 billion.

The investment has been 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.

This is also the fifth Indian firm to hit the unicorn or $1 billion valuation this week. Others include social commerce firm Meesho, online investment firm Groww, fintech Cred, and online