India’s Sharechat is latest to enter unicorn club with $502m funding round
Photo by Himanshu Choudhary on Unsplash
April 8, 2021
Homegrown social media apps, Sharechat and Moj, are the latest entrants to the unicorn club. Mohalla Tech, the company behind these apps, has raised $502 million in its latest funding round, led by venture firms Lightspeed Ventures and Tiger Global. American social media companies, Twitter and Snap Inc, also participated in the round.
Ankush Sachdeva, chief executive officer and co-founder of ShareChat, said the fresh funds will be used to grow the company’s user base, strengthen the creator community on its apps, and improve the company’s artificial intelligence (AI) powered recommendation engines.
Mohalla Tech, parent company of ShareChat & Moj, raises $502 million in Series E round
April 08, 2021
Enters Unicorn Club with a valuation of $2.1 billion
Mohalla Tech, the parent company of short video app Moj and Indic language social media platform ShareChat, has become the latest entrant to the Unicorn Club with a fund raise of $502 million in Series E, at a valuation of a little over $2.1 billion.
The investment has been led by Lightspeed Ventures and Tiger Global, along with participation from Snap Inc, Twitter and India Quotient, amongst others.
Commenting on the financing round, Ankush Sachdeva, CEO and co-founder, ShareChat, said, “We are at an exciting inflection point in our journey, where we are going after a massive opportunity with the right team in place and the backing of long-term investors who have a deep conviction in our mission. With ShareChat and Moj, we are well-positioned to build the largest AI-powered content ecosystem in India.”
Sharechat raises $502 mn to build India’s largest AI-powered content ecosystem bestmediainfo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bestmediainfo.com Daily Mail and Mail on Sunday newspapers.
The company has raised $502 million in its latest round
08 Apr, 2021 - 04:27 PM IST | By indiantelevision.com Team
KOLKATA: Mohalla Tech, the parent company of Moj and ShareChat, has become the latest entrant to the coveted unicorn club. The start-up has raised $502 million in its latest round of funding led by Lightspeed Ventures and Tiger Global, along with participation from Snap Inc, Twitter and India Quotient. With the new rounds of investment, its valuation has passed over $2.1 billion.
ShareChat CEO & co-founder Ankush Sachdeva said, “We are at an exciting inflection point in our journey, where we are going after a massive opportunity with the right team in place and the backing of long-term investors who have a deep conviction in our mission. With ShareChat & Moj, we are well-positioned to build the largest AI-powered content ecosystem in India.”
Snorkel AI Launches Application Studio, the Fastest Way to Develop AI Applications, and Raises $35 Million in Growth Funding Led by Lightspeed Venture Partners
April 07, 2021 12:06 ET | Source: Snorkel AI Snorkel AI Palo Alto, California, UNITED STATES
PALO ALTO, Calif., April 07, 2021 (GLOBE NEWSWIRE) Snorkel AI, the company accelerating enterprise AI application development and deployment through programmatic data labeling, today announced Application Studio, a visual builder with templated solutions for common AI use cases based on best practices from hundreds of deployments and research at top academic institutions over the last six years. Application Studio is in preview and will be generally available later this year within Snorkel Flow, the first AI development platform to programmatically label data and train, deploy and analyze models iteratively.