Monalla Tech is a parent company of short video platform Moj and regional social network Share Chat. Share Chat is an Indian social media platform. Together with Moj, it has more than 340 million users. Monalla Tech is aimed to build up an AI-based content ecosystem.
The investment round Series G was led by Alkeon Capital. Among other participants were Temasek, Moore Strategic Ventures, Harbourvest, and India Quotient. In the earlier round, in July, Tiger, Snapchat, and Twitter were led investors. The money raised will be used to deepen capabilities on social and live commerce and team increase.
Monalla Tech, India-based, was founded by Ankush Sachdeva, Farid Ahsan, and Bhanu Singh. Share Chat, launched in 2015, was one of the first apps in regional language content. In June 2020, Moj was launched, and after the TikTok ban, it experienced significant growth. “Both our products have been leading the market with the highest monthly active user base, a very active creator set, and amazing new partnerships to delight our community.”, Ankush Sachdeva, CEO, said. Now, the company has more than 2000 employees.