- NEWS Desk Global
SHARECHAT RAISES $49 MILLION VIA CONVERTIBLE DEBENTURES FROM EXISTING INVESTORS
ShareChat (Mohalla Tech) has revealed the completion of its $49 million funding round through convertible debentures, with participation from existing investors such as Lightspeed, Temasek, Alkeon Capital, Moore Strategic Ventures, and HarbourVest, among others. This capital infusion will enable further investment in its Ad targeting technology and support the ongoing expansion of the consumer transactions business on ShareChat Live and Moj Live platforms.
The ShareChat app is already achieving operational profitability, while the short video app Moj is anticipated to reach operational profitability in the coming months.
In addition to the funding announcement, ShareChat announced a company-wide ESOP (employee stock ownership plan) bonus program, which will double the ESOP ownership for all current employees.