# India lands yet another $1 billion-plus startup in Mohalla Tech | Tech News (HT Tech) > India’s Mohalla Tech said that it raised $502 million from investors led by Lightspeed Ventures and Tiger Global, increasing its valuation to more than $2.1 billion. # India lands yet another $1 billion-plus startup in Mohalla Tech ## India’s Mohalla Tech said that it raised $502 million from investors led by Lightspeed Ventures and Tiger Global, increasing its valuation to more than $2.1 billion. Aug 21 2022, 16:15 IST ![Follow on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/follow-us-facebook.png) ![Follow on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/follow-us-facebook-hover.png) ![Share](https://images.hindustantimes.com/tech/static/revamp/images/png/Share.png) ![Share](https://images.hindustantimes.com/tech/static/revamp/images/png/Shareclicked.png) ![Share on WhatsApp](https://images.hindustantimes.com/tech/static/revamp/images/png/whatsapp.png) ![Share on WhatsApp](https://images.hindustantimes.com/tech/static/revamp/images/png/whatsapp-hover.png) ![Share on Twitter](https://images.hindustantimes.com/tech/static/revamp/images/png/twitter.png) ![Share on Twitter](https://images.hindustantimes.com/tech/static/revamp/images/png/twitter-hover.png) ![Share on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/facebook.png) ![Share on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/facebook-hover.png) ![Bookmark](https://images.hindustantimes.com/tech/static/revamp/images/png/Bookmark.png) ![Bookmarked](https://images.hindustantimes.com/tech/static/revamp/images/png/Bookmarked.png) ![Image used for representational purposes.](https://images.hindustantimes.com/tech/img/2021/04/08/1600x900/mario-gogh-VBLHICVh-lI-unsplash_1617877096103_1617877112100.jpg) Image used for representational purposes. (Unsplash) ![Author Photo](https://images.hindustantimes.com/tech/static/revamp/images/png/HTTech-new-circle-logo.png) ### By BLOOMBERG India’s Mohalla Tech said that it raised $502 million from investors led by Lightspeed Ventures and Tiger Global, increasing its valuation to more than $2.1 billion. Mohalla Tech, founded in 2015, has developed products including the social media platform ShareChat and the short-video app Moj. Their user community numbers 280 million combined, the company said. Also read: SoftBank mints new unicorn in Indian social commerce app Meesho Also read click here. India’s startups have scored a flurry of new fundings this year, with at least five reaching a valuation of $1 billion or more – unicorn status in the tech industry – just this week. They include the social commerce firm Meesho Inc., financial-technology provider Cred, Indian investment platform Groww and API Holdings Pvt., one of India’s largest digital pharmacies. Mohalla Tech reached that mark with the latest fundraising, which also came from Snap Inc. and Twitter Inc. Read more: Silicon Valley self-driving startup Gatik works with Isuzu to build delivery trucks Content-sharing platform ShareChat was valued at over $2 billion on Thursday, after it announced it had raised $502 million in funding from Lightspeed Venture Partners, Tiger Global, Snap and Twitter. The service has grown following the Indian government's decision to ban several apps originating from (or associated with) China last year, which increased demand for these apps across the country. “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,” said Ankush Sachdeva, chief executive officer and co-founder of ShareChat, in a statement. - With inputs from HT Correspondent Catch all the Latest Tech News, Mobile News, Laptop News, Gaming news, Wearables News , How To News, also keep up with us on Whatsapp channel,Twitter, Facebook, Google News, and Instagram. 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