Koo bags $30 million in Series B funding round led by Tiger Global

Date: 2021-05-27   Author: Pankaj Singh  Category: #news

Koo bags $30 million in Series B funding round led by Tiger Global

Koo, an Indian microblogging and social networking service, has reportedly secured $30 million in a Series B funding round from Tiger Global.

The latest funding round also includes participation from other new investors namely Mirae Assets and IIFL as well as existing investors such as Dream Incubator, Blume Ventures, Accel Partners, 3one4 Capital, and Kalaari Capital. The funds will be mainly used to strengthen the platform’s product, engineering, and community efforts in all Indian languages.

According to Koo’s CEO & Co-founder, Aprameya Radhakrishna, the company has been placing a strong emphasis on becoming one of the largest social media platforms across the globe over the next few years and catering to a wide user base in India.

The Koo app was founded by Aprameya Radhakrishna, TaxiForSure’s Co-founder, and Mayank Bidawatka, Founder of Goodbox and MediaAnt, in March 2020. The platform is apparently available in various Indian languages, where people from across the nation leverage it to express themselves in the easiest way possible in their mother tongue.

For the record, the app has already registered over 6 million downloads per year. Some of its users include film stars like Kangana Ranaut and Anupam Kher; Union Ministers such as Smriti Irani, Piyush Goyal, and Ravi Shankar Prasad; Kamal Nath, a senior leader of Congress. Furthermore, the platform has been adopted by Rajendra pal Gautham from AAP, Upendra Khushwaha from JDU, Chandrashekhar Aazad of Bhim Army, Supriya Sule of the NCP, Deve Gowda (former Prime Minister and JDS supremo), as well as sports celebrities like Deepak Hooda, Mary Kom, Javagal Srinath, Bhaichung Bhutia, and Saina Nehwal.

The Koo app, billed as an alternative to Twitter in the country, won 2nd place in the Aatmanirbhar App Challenge that was announced by the Indian government in 2020. Moreover, it was named the Best Daily Essential App of Google PlayStore for 2020 and received a special mention by PM Narendra Modi in the Mann Ki Baat address.

Source credit:

https://yourstory.com/2021/05/funding-alert-koo-series-b-investment-tiger-global/amp



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Pankaj Singh

Pankaj Singh Develops content for Algosonline, Market Size Forecasters, and a couple of other platforms. A Post Graduate in Management by qualification, he worked as an underwriter in the UK insurance domain before deciding to switch his field of profession. With exp...

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