From raising $ 145 million, Indian social media platform, ShareChat is now climbing a valuation towards $ 3 billion, within three months of procuring $ 502 million at a valuation of $ 2.1 billion. The latter procurement was raised from Tiger Global, Lightspeed, Snap Inc and Twitter.

The current funding round was headed by Singapore's Temasek, Moore Strategic Ventures (MSV), and Mirae-Naver Asia Growth Fund, a joint venture between Mirae Asset and South Korean web portal Naver Corp.

The company seems to view its additional fund raised during Series F round as a validation of its market leadership and reflects how investors have trust in its execution capabilities. Additionally it feels immeasurably proud of what Moj and ShareChat have accomplished in the last 12 months.

It claims that Moj's monthly active user population has increased to 160 million, while ShareChat's has grown to 180 million.

According to Ankush Sachdeva, CEO and Co-Founder of Moj and ShareChat, Moj has blossomed as India's number one short video app in a year, with a monthly active user base of 160 million and over 50 million strong creator community. To maintain our leadership position, we will continue to invest in AI capabilities, scaling our global AI organization, developing advanced editing tools, and assisting our creators in monetizing their work on the platform.

Mohalla Tech, founded in 2015, has raised approximately $911 million in seven rounds of funding.

Moj, on the other hand, is up against a small group of competitors, including Times Internet's MX TakaTak, Glance's Roposo, and DailyHunt's Josh, all of whom received funding from Google late last year.

“We're pleased to work with Moj as they develop India's leading short-form video platform, and we've been impressed by their management team's speed and agility in seizing this opportunity. This round will enable Moj and ShareChat continue to build the finest ecosystem for content creators and consumers", said James McIntyre, MSV's Senior Managing Director and COO.

“We have been truly privileged to recruit a group of very high-quality names in our series F, and the list just grew longer with Temasek, MSV, and Mirae-Naver joining forces with us”, Sachdeva says.