The $ 502 million spherical of financing was led by funding companies Tiger World and Lightspeed Enterprise Companions, and It boosted Mohalla Tech’s valuation to simply over $ 2 billion, the corporate stated in a press release on Thursday. A ShareChat spokesperson advised CNN Enterprise that that is Snap’s first funding within the firm, whereas Twitter has participated in two earlier rounds.
“With this capital injection, we are going to proceed to develop our consumer base vigorously,” Ankush Sachdeva, CEO of Mohalla Tech and co-founder of Mohalla Tech, stated in a press release.
Mohalla Tech, based in 2015, has raised greater than $ 766 million In six funding rounds. It has 280 million customers throughout its two merchandise – ShareChat and the quick video app Moj.
Tiger World accomplice Scott Schleifer stated in a press release.