Induslaw Helps ShareChat to Gain Unicorn Status With a Whopping USD 502 Million Fund Raise

Mohalla Tech, the parent company behind India’s leading short video app Moj and Indic language social media platform ShareChat has become the latest entrant to the Unicorn Club. The company has raised US$502 million in its latest round. With the new rounds of investment, the valuation stands a little over US$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 & 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 & Moj, we are well-positioned to build the largest AI-powered content ecosystem in India.” Talking about the growth and the investment plan, he further added, “With this infusion of capital we would continue to aggressively grow our user base, build a world-class org in India & US and further strengthen our creator community, AI-powered recommendation engine and platform health.”

IndusLaw’s Delhi team continued to advise the Company and its founders on their fund-raising transactions and the team was comprised of its partners, Manish Gupta and Anubha Sital, principal associates Nikita Goyal and Ashish Ahluwalia and associate Rashi Singh advised them on this mega transaction. The IndusLaw team was also well supported by Sharechat’s in-house team led by its new General Counsel, G. T. Thomas Phillippe.

Lightspeed and Tiger were represented by Gunderson’s Singapore team lead by its partner, Jonathan C. Pentzien and associates Jolyn Ang and Soo Guo Kai and were supported by AZB’s Bangalore team.  

Snap was represented by Cooley’s Singapore team led by its partner Ferish Patel and associates, Miae Woo and Abhishek Banerjee.

Twitter was represented by Skadden’s Singapore team led by its partner Parveet Gandoak, who was assisted by Khaitan & Co.‘s Bangalore team led by its partner Sharad Moudgal and senior associate BN Vivek.