Micro-blogging platform Koo announced that it has raised $30 million in a Series B funding round led by Tiger Global. The other new investors are IIFL and Mirae Assets.
Existing investors Kalaari Capital, Accel Partners, Blume Ventures, and Dream Incubator also participated in the round.
The company plans to use the freshly raised funds 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. “
The startup was established in March 2020 by Aprameya Radhakrishna, the co-founder of TaxiForSure, and Mayank Bidawatka, who earlier founded companies like MediaAnt and Goodbox.
At present, the platform is available in several Indian languages. People from across diverse regions in India can express themselves in their mother tongue. In just a year of operations, the app has over six million downloads, with a community posting content every day.
Some of the big names include film stars like Anupam Kher and Kangna Ranaut; politicians like Union ministers Ravi Shankar Prasad, Piyush Goyal, and Smriti Irani, and senior leader of Congress Kamal Nath, JDS supremo and former Prime Minister Deve Gowda, Supriya Sule of the NCP, Chandrashekhar Aazad of Bhim Army, Upendra Khushwaha from JDU, Rajendra pal Gautham from AAP; and sports celebrities including Saina Nehwal, Bhaichung Bhutia, Javagal Srinath, Mary Kom, and Deepak Hooda, amongst many others.
Described as India’s alternative to Twitter, the Koo app stood second in the Aatmanirbhar App Challenge conducted by the Indian government last year. It was also selected as Google PlayStore’s Best Daily Essential App for 2020 and received a special mention by Prime Minister Narendra Modi in his Mann Ki Baat address.
Koo is not only promoting language inclusivity but is transforming the Indian micro-blogging space. It’s always a proud moment to see Indian startups grow and compete with big international rivals. The platform is looking at immense growth opportunities in the near future. My best wishes to the team of Koo.Shishir Gupta, Founder and CEO, StartupLanes
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