ShareChat raises $255M from Google, others; valued at $5B
Premium- The firm had raised $266 million in December 2021 in the first part of the round from Alkeon Capital, Temasek, HarbourVest, Moore Strategic Ventures, and India Quotient.
Indian social media and social networking service on 16 June announced to have raised $255 million in funds from Google, Times Group, and Temasek.
With this, the home-grown social media firm reached $5 billion in valuation with its multi-tranche funding round.
The firm had raised $266 million in December 2021 in the first part of the round from Alkeon Capital, Temasek, HarbourVest, Moore Strategic Ventures, and India Quotient.
ShareChat's parent firm Mohalla tech in a statement said that it has closed multi-tranche funding round through which it raised a total of $520 million and reached $5 billion in valuation.
"In the first part of the round, ShareChat had raised USD 266 million in December 2021 from Alkeon Capital, Temasek, HarbourVest, Moore Strategic Ventures and India Quotient," news agency PTI quoted ShareChat's statement.
Adding more, the statement said that it added Google and Times Group as new investors in the final tranche of this round, while Temasek participated yet again, after the acquisition of MX TakaTak.
In 2021, ShareChat achieved the unicorn status and collectively raised $913 million, which made it highest funding among all companies that became unicorns during the year.
"We are excited to announce the closing of our funding round and adding Google and The Times Group to our cap table. We are also happy and grateful to see Temasek reaffirming its faith in us for the third time in a year," ShareChat and Moj's CEO and Co-founder Ankush Sachdeva said.
With inputs from PTI.