The Bengaluru-based social media company, ShareChat said that it has raised $40 million in Pre-Series E round. The fund raised in the current round of funding will be utilised for driving the growth of newly launched short video platform, Moj.

The company said that the new funding round had seen significant investments from MD of Hero MotoCorp, Dr Pawan Munjal, DCM Shriram Promoters Family Office, SAIF Partners, Twitter, Lightspeed Ventures and India Quotient.

The investments made towards Moj’s development, growing its creator ecosystem and establishing partnerships with music labels would be doubled, the company said. “Our short-video platform Moj has been on an explosive growth trajectory since its launch. This funding will help us further invest in our product development, ML capabilities and helping the creator community,” said CEO & Co-Founder of ShareChat, Ankush Sachdeva.

ShareChat said that the company’s flagship regional language social media platform and the newly launched short video platform Moj together have MAUs (monthly active users) of over 240 million. Moj alone has over 80 million MAUs with an average timing of about 34 minutes. Last month, the main app exceeded over 160 million MAUs with the average daily time spent of 31 minutes by the users of the platform.

ShareChat’s Series D funding round was led by Twitter with the additional backing of its three existing investors SAIF Partners, Lightspeed Ventures and India Quotient. With its Pre-Series E Funding Round, ShareChat’s total funding now stands at $264 million, it said.