Mohalla Tech's valuation may cross $5 billion after raising $300 million

The parent company behind short-video platform Moj and regional social network ShareChat, is in the process of raising about $300 million in fresh funding from Alphabet Inc's Google and Singapore's Te

Mohalla Tech, the parent company behind short-video platform Moj and regional social network ShareChat, is in the process of raising about $300 million in fresh funding from Alphabet Inc's Google, Singapore's Temasek Holdings and media firm Times Group, according to people familiar with the matter. The funding has increased the valuation of the firm to $5 billion from its previous valuation of $3.7 billion.

A ShareChat spokesperson declined to comment on the development and a Google spokesperson said “it doesn’t comment on speculation like this.”

According to the sources, the funding is expected to help Mohalla Tech to build deep