Short video app ShareChat raises $520 mn in VC funding

 

India-based social media company ShareChat has closed a $520 million in a multi-tranche VC funding round.
ShareChatShareChat, a leading short video app, has raised $255 million from Google, Times Group, and existing investors, adding to the $266 million it raised earlier in December 2021 from Alkeon Capital, Temasek, HarbourVest, Moore Strategic Ventures, and India Quotient.

Since 2021, ShareChat has raised $1.2 billion and acquired MX TakaTak.

ShareChat has collectively raised $913 million in 2021.

ShareChat (Mohalla Tech) runs India’s largest short video platforms, Moj and TakaTak, besides the ShareChat app, which together cater to over 400 million users.

Since its launch in July 2020, Moj has grown to become India’s favourite short video app with over 3X daily active users and 2X daily time spent per user compared to its nearest domestic competitor.

ShareChat announced a merger with MXTakaTak, bolstering its short video ecosystem to 300 million MAUs and 100 million creators.