India’s Mohalla Tech Pvt., the company behind social media platform ShareChat and short-video app Moj, is looking to attract more funding at a valuation of $5 billion.
The Bangalore-based startup is in early talks for the series H round with Singapore state investor Temasek Holdings Pte and Indian digital media group Times Internet Ltd., according to people who asked not to be identified because the information is confidential. According to the sources, the company might raise at least $200 million.
Google, owned by Alphabet Inc., is also considering joining in the fundraiser, according to the sources.
Both ShareChat and Moj focus on content in more than a dozen Indian languages, distinguishing themselves from other platforms that cater to India’s increasingly crowded English-speaking user base.
The persons indicated that discussions are still ongoing and that elements such as financing size may change. Alphabet, Mohalla Tech, and Temasek declined to comment, while a Times Internet spokesperson did not immediately reply to demands for comment.
Mohalla Tech’s valuation would skyrocket as a result of the funding. According to the company, it raised $266 million in December at a valuation of $3.7 billion. Alkeon Capital led the investment, with Temasek and other companies joining in.
The startup, which was founded in 2015, also counts Lightspeed Ventures, Snap Inc., Tiger Global and Twitter Inc. among its backers.
Mohalla Tech agreed last month to acquire short-video platform MX TakaTak from the Times Internet-backed MX Media Co. The combined Moj and MX TakaTak platform will have 100 million creators, over 300 million monthly active users and nearly 250 billion monthly video views, according to a press release.
