The new investments, part of ShareChat's third funding round this year, was led by Alkeon and saw participation from Singapore's Temasek Holdings and Moore Strategic Ventures, among others.
ShareChat built and helped its creators monetise a live audio product called Chatrooms, launched in April 2020
The partnership allows ShareChat and Moj to access an extensive catalog of Indian music and provide an enhanced experience to its creator communities
Investment was led by Singapore state investor Temasek, Moore Strategic Ventures and Mirae-Naver Asia Growth Fund
The funding signals growing fascination for Indian content-sharing and short-video apps.
ShareChat, with over 160 million monthly active users in India, allows users to share their opinions, record their lives and make new friends - all within the comfort of their native language.
Nearly 200 existing and former employees with vested options are eligible to participate in this process, the firm said
Nearly 200 existing and former employees with vested options are eligible to participate in this process.
The feature is essentially what Clubhouse and Twitter Spaces have made popular in the largely English-speaking world
Joins the club with its latest fundraise of $502 million, valuing the company at a little over $2.1 billion
The funding was led by U.S. venture capital firm Lightspeed Venture Partners and American investment firm Tiger, ShareChat said in a statement on Thursday
ShareChat is a Bengaluru-based social networking platform
Under the deal, Moj's team will access Snapchat's Lens Carousel directly inside the app when creating content; Moj will develop more than 400 lenses over multiple phases for its community
Homegrown social media platform ShareChat on Tuesday said over 750 million user generated pieces of content were uploaded this year
The other investors include DCM Shriram Promoters Family and SAIF Partners
The latest funds will be used to drive growth for ShareChat's short-video app Moj, the company said in a statement, a platform which is similar to TikTok
Home-grown social media group ShareChat said it had acquired HPF Films, a video production company specialised in digital content
Acquires Saif Partners-backed Circle Internet to strengthen hyperlocal content on platform
Indian social media app Sharechat is in talks with US-based venture capital firm Sequoia Capital to raise around Rs 1,500 crore, according to a source.
By Aditya Kalra, Aditi Shah and Anirban Sen