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ShareChat to utilize its funds on AI & machine learning


Mohalla Tech, the parent firm of regional language social media platform ShareChat & short video app Moj, has raised $145 million in its Series F funding round. The ground was led by Singapore’s Temasek & Moore Strategic ventures. The value of ShareChat has increased from $2.1 billion in April to $2.88 billion. ShareChat has intended to use this money in improving its AI feed, attracting & incentivizing a diverse creator base & strengthening safety on its platform. Senior executives from the UK & the US with expertise in AI & machine learning have been hired for the same purpose. In a funding round led by Riverwood Capital Singapore-Mumbai-based B2B payment platform, Nium has raised $200 million.

The deal would help the company where it will directly engage in a variety of payment services activities that includes currency conversion, money transfer & prepaid card issuance, says the CEO Prajit Nanu.

Source: Economic Times

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