Mohalla Tech is the parent entity of the vernacular social media platform ShareChat and the short-video entertainment app Moj. The company raised an additional $16 million in debt financing from Singapore-based EDBI. That injection brings the total amount raised in its ongoing financing round to $65 million. The financing reported in the article is structured as debt. The report also states the company laid off approximately 5% of its staff. ShareChat is an Indian social media startup focused on live-streaming and has grown in part through acquiring rival MxTakaTak. The company recently secured $49 million in debt financing from existing investors to fund bonus ESOP grants and boost employee morale. Its valuation plunged from nearly $5 billion to below $2 billion after a new funding round. Management has implemented aggressive cost-cutting measures even as the company reports revenue growth. ShareChat faces challenges monetizing a user base with limited purchasing power and carries a high expense-to-revenue ratio. The firm's ability to adapt—particularly around live-streaming—will be pivotal to its competitive prospects in the Indian market. ShareChat, under parent Mohalla Tech, operates social and short-video platforms and includes apps Moj and the recently acquired MX TakaTak. The company reported 180 million monthly active users for ShareChat and a combined user base of 300 million across Moj and MX TakaTak. It has previously raised capital, including a $266 million funding round that valued it at $3.7 billion and included investors such as Alkeon Capital and Temasek. In the current deal Mohalla Tech secured nearly $300 million in fresh funding from Alphabet's Google, the Times Group and Temasek, valuing the firm at nearly $5 billion. The investment is set to be announced soon and marks Google's second major bet in India's short-video space after backing Josh. ShareChat also counts Twitter and Snap among its investors. ShareChat is a Bangalore-based social network that offers its app in 15 Indian languages and runs Moj, a short-video app launched shortly after India banned TikTok. The company claims more than 160 million users and a 50 million+ creator community; Moj reportedly logs 4.5 billion views per day and average user sessions of about 34 minutes. Moj is described by management as the firm's fastest-growing product and is expected to potentially become bigger than ShareChat. ShareChat has raised over $911 million to date and recently closed an additional $145 million tranche as part of its Series F, bringing its valuation to nearly $3 billion (TechCrunch headline lists $2.88 billion). The business competes in short-form video with players such as MX TakaTak, Glance’s Roposo and DailyHunt’s Josh. Management says it will continue to invest in AI capabilities, scale its global AI organization, build advanced editing tools and help creators monetize on the platform. ShareChat is a Bangalore-based social network that offers apps in 15 Indian languages and targets users in smaller cities and towns across India. The company claims more than 160 million users and has expanded its product suite to include Moj, a short-form video app with over 80 million monthly active users. Moj was built rapidly after TikTok’s exit and integrates Snap’s Camera Kit to strengthen its short‑video offering. ShareChat is experimenting with monetization through commerce interactions in audio chat rooms and launched a fantasy sports app called Jeet. The company says it aims to grow its ecosystem of products toward 1 billion+ cumulative MAUs as internet penetration deepens in India. To date ShareChat has raised about $765 million in funding.

Total raised

$1.4B

Funding rounds

8

Latest round

Debt Financing

Latest activity

Aug 2024