Indian online media stage ShareChat has raised $502 million from Tiger Global Management and LightSpeed Ventures, while Snap Inc, Twitter and India Quotient, as well, partaken in the round. With the most recent venture, the startup’s valuation has gone up to $2.1 billion.

The venture makes ShareChat the fifth Indian tech-startup to be esteemed by financial backers at a billion dollars this week and the ninth unicorn of 2021.

The local language web-based media stage’s new subsidizing round will be utilized for its short video stage Moj, which it had dispatched in July a year ago, just after Chinese short video application TikTok’s boycott in India. Right now, ShareChat professes to have more than 160 million month to month clients while Moj professes to have 120 million month to month dynamic clients.

Moj is very much situated to take advantage of the lucky break introduced by the development of short video in India. We are intrigued with the group’s comprehension of these quickly advancing advancements and its capacity to execute rapidly, and we are eager to collaborate with them as they keep on building an extraordinary organization, said Scott Shleifer, accomplice at Tiger Global in an articulation.

The financing comes into the parent organization of ShareChat and Moj Mohalla Tech. The organization has now raised a sum of $766 million in financing. Prior, there were discussions that Google would likewise be wagering on the web-based media stage.

With this implantation of capital we would proceed to forcefully develop our client base, form a-list association in India and the US and further reinforce our maker local area, man-made brainpower fueled suggestion motor and stage wellbeing, said Ankush Sachdeva, CEO and fellow benefactor of ShareChat in an explanation.

The Indian web-based media stage ShareChat has assembled a solid base for itself in the country. As a cognizant choice, ShareChat isn’t pursuing the first adopters of the web in Quite a while – the English-talking crowd which burns-through content like the West. Sharechat has a presence in more than 15 Indian dialects.

ShareChat’s Moj has rivalry from any semblance of DailyHunt’s Josh, MX Player, Chingari among others.