ShareChat Sets Up Its First AI Centre Of Excellence In Southeast Asia

ShareChat Sets Up Its First AI Centre Of Excellence In Southeast Asia

SUMMARY

The Singapore hub is the company’s third such facility in the AI space outside India, after the US and the UK

The AI centre of excellence will help the startup enhance the AI model and develop ML models

Social media platform ShareChat has launched its first AI centre of excellence in Southeast Asia in Singapore

Social media platform ShareChat has launched its first AI centre of excellence in Southeast Asia in Singapore.

The Singapore hub is the company’s third such facility in the AI space outside India, after the US and the UK.

The AI centre of excellence will help the startup enhance the AI model and develop ML models.This comes  three months after Mohalla Tech Private Limited, the parent of social media platform ShareChat and short video app Moj, had launched social media app ‘Vibely’ to connect with new users, sources told Inc42.

The new centre is aimed at advancing deep tech in critical areas like ad personalisation, recommendation systems, and content moderation.

Founded in 2015 and headquartered in Bengaluru, ShareChat is a social media platform for creating and posting content, allowing users to watch and share posts in their own regional language.

The company posted a 33% year-on-year (YoY) growth in operating revenue for FY24 at INR 718 Cr, as against INR 540 Cr recorded a year back. Its adjusted EBITDA losses narrowed by 67% to INR 793 Cr from INR 2,400 Cr in this period.

ShareChat claims to have over 325 Mn monthly active users (MAUs) across its platforms, with Moj contributing 160 Mn MAUs and ShareChat App adding 180 Mn MAUs.

The company is backed by marquee investors like Google, Temasek, and EDBI.

The startup has been on a cost-cutting spree since 2023. It laid off around 800 employees in three rounds last year and also pulled the plug on its fantasy app platform Jeet11 and live commerce business.

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ShareChat Sets Up Its First AI Centre Of Excellence In Southeast Asia-Inc42 Media
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