Samreen Ahmad · · 1 min readGoogle, Temasek join $300m round of Indian social media unicorn
Mohalla Tech, the parent firm of India-based social media unicorn ShareChat, has raised nearly US$300 million in funding from local media conglomerate Times Group, Singapore’s Temasek Holdings, and tech titan Google, sources told Reuters.
After the latest round, Mohalla’s valuation stands at US$5 billion. In 2021, the company, which also owns short-video app Moj, raised US$266 million at a valuation of $3.7 billion.
Google is also an investor in VerSe Innovation, which runs another short-video app named Josh in India. The company is already valued at US$5 billion.
A flurry of homegrown short-video apps has captured the local market after the government banned China’s TikTok last year. India’s short-video market is expected to grow 2x to reach 650 million monthly active users by 2025.
Editing by Deepti Sri and Joy Tirkey
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