ShareChat, which has raised about $260 million to date, is in talks with other investors including Google and Snap for its new funding round, TechCrunch reported.
Moj earlier this month said it was integrating Snap's Camera Kit to make Snapchat's augmented reality (AR) capabilities available to its growing community.
ShareChat, which has over 160 million users in India, is especially popular among regional language users.
The development comes at a time when Koo, a homegrown rival to Twitter, is fast gaining traction in the backdrop of a fortnight-long deadlock between Twitter and the Indian government over actions on some accounts.
The issue now appears to have resolved after Twitter either withheld or suspended at least 90-95% accounts earlier this month as directed by the IT Ministry in two separate notices.
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