Twitter-rival Koo raises $30 mn in Series B funding led by Tiger Global



Twitter-rival Koo has raised USD 30 million (about Rs 218 crore) in Series B funding, led by with existing investors also participating in the latest round.


Existing investors Accel Partners, Kalaari Capital, Blume Ventures and Dream Incubator also took part in the round, Koo said in a statement. IIFL and Mirae Assets are other new investors who have come on board the cap table with this round, it added.



Notably, the fund raising comes amid new IT intermediary rules taking effect, translating into greater accountability and scrutiny for social media companies, including and Facebook. Koo has close to 60 lakh users, making it a major social media intermediary under the new guidelines.


Koo, last week, said it has complied with the requirements of the new rules and its privacy policy, terms of use and community guidelines now reflect the changes.


“Koo, India’s own microblogging app, has raised USD 30 million in Series B funding,” it said in a statement on Wednesday, adding that led the investment round.


The fresh round of funding would be used mainly to strengthen engineering, product and community efforts across all Indian languages at Koo.


Aprameya Radhakrishna, Co-Founder and CEO of Koo said, We have aggressive plans to grow into one of the world’s largest social media platforms in the next few years. Every Indian is cheering for us to get there soon”.


is the right partner to have on board to realise this dream, Radhakrishna added.


Koo was founded by serial entrepreneurs Aprameya Radhakrishna, founder of TaxiForSure and Mayank Bidawatka who previously founded companies like MediaAnt and Goodbox. Its popularity peaked amid clarion calls for expanding the ecosystem of homegrown digital platforms.


Koo has seen a massive growth in its user base over the past few months after union ministers and government departments endorsed the homegrown microblogging platform, following a spat with

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor



Source link