Indian social media platform ShareChat announced Tuesday that it raised $145 million more and is now valued at almost $3 billion. This comes less than three months after it received $502 million at a valuation $2.1 billion.Temasek Strategic Ventures and Moore Strategic Ventures led this new round of investment, while MiraeNaver Asia Growth Fund participated in the financing round (Series FF), the Bangalore-based startup stated. TechCrunch earlier reported that ShareChat, a six-year-old startup, was seeking a valuation of around $2.8 billion. It said that ShareChat has closed its Series F financing round. The company has raised more than $911 million so far.The Series F investment is a testament to our market leadership and an indication of investor confidence in our execution abilities. Ankush Sachdeva (co-founder and chief executive at video app Moj) said that they are extremely proud of the achievements made with ShareChat and Moj over the past 12 months.We are very lucky to have attracted a lot of high-quality names in series F. The list is getting longer thanks to Temasek and Mirae-Naver joining forces with us.Sachdeva stated that the startup's short video app Moj was the fastest-growing product in the company and that it will soon surpass ShareChat.ShareChat claims it has more than 160 million users and offers its social networking app in 15 Indian languages. It also has a large following within small Indian towns and cities, or what Sajith Pai, a Blume Ventures venture capitalist, refers to as India 2.The reach of the Indian startup ecosystem is limited. This is due to very few players.Moj is competing with a few players like Times Internets MX TakaTak as well as Glances Roposo, DailyHunts Josh, and Glances Roposo, both of whom received funding from Google last year. TechCrunch earlier reported that the search giant was also interested in investing in ShareChat.Moj has become India's most popular short video app with a user base of 160 millions and a creator community of 50+ million. Sachdeva said that Moj will continue to invest in its AI capabilities, scaling the global AI org, creating advanced editing tools, and helping our creators monetize the platform. She added that the short video app has 4.5 billion users each day and that a typical user spends around 34 minutes per day with it.TechCrunch reported that Twitter was in talks to buy ShareChat's majority stake and expand the Moj App globally.Moj is India's leading short-form video platform. We are thrilled to be a partner and impressed by the management team's speed and agility in seizing this opportunity. Moj and ShareChat will continue to create the best ecosystem for content creators, and consumers, through this round, James McIntyre (Senior Managing Director, COO, MSV) stated in a statement.
