Mohalla Tech, the parent company behind Moj and ShareChat is in early talks to raise $500 million – $600 million as a part of a new fundraise, according to two people aware of the discussion. The startup is expected to raise the funds at a valuation of $5 billion, the above quoted individuals said. While the company is set out to raise $500 million, it can raise up to $650 million as a part of this raise considering interest from foreign investors, the second person aware of the discussions told Mint. The last fundraise valued Mohalla Tech at $2.88 billion in July, up from the $2.1 billion valuation it was ascribed to earlier in April this year. Further, it takes large capital to scale these models,” said the second person requesting anonymity.

Source: Mint November 22, 2021 16:22 UTC