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, Reuters reported.
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.
The latest funding round was led by Temasek and Moore Strategic Ventures, with participation from a fund jointly set up by Mirae Asset and South Korean web portal Naver.
The latest investments come around four months after ShareChat raised $502 million from Tiger Global, Snap, Twitter and some others.
The company will invest in artificial-intelligence capabilities of video app Moj and enhance its in-app editing tools, said CEO Ankush Sachdeva.
ShareChat has 180 million active users. Moj has 160 million users and counts Facebook’s Instagram Reels as its top rival.
