ShareChat raises USD 502 mn from Snap, Twitter, others

ShareChat on Thursday said it has raised USD 502 million (about Rs 3,725 crore) in funding led by Lightspeed Venture Partners and Tiger Global, valuing the homegrown social media platform at over USD 2.1 billion.

Snap Inc (which owns photo-messaging app Snapchat) and existing investors Twitter and India Quotient, among others, also participated in the funding round in Mohalla Tech, the parent company of ShareChat and short video app, Moj. Founded in 2015, Mohalla Tech has raised over USD 766 million across six fundraising rounds.