Koo has raised $30 million in Series B funding. Tiger Global has led the investment round with existing investors Accel Partners, Kalaari Capital, Blume Ventures and Dream Incubator also participating in the round. IIFL and Mirae Assets are other new investors who have come on board the cap table with this round.
Koo is a microblogging site that has garnered nearly 6 million downloads since it was launched last year.
Some of the big names to join Koo include Bollywood biggies Anupam Kher, Kangna Ranaut, Union ministers Ravi Shankar Prasad, Piyush Goyal and Smriti Irani, senior leader of Congress Kamal Nath, JDS supremo and former Prime Minister Deve Gowda, Supriya Sule of the NCP, Upendra Khushwaha from JDU, Rajendra Pal Gautham from AAP, sports celebrities including Saina Nehwal, Bhaichung Bhutia, Javagal Srinath, Mary Kom, Deepak Hooda amongst many others.
Koo was founded by serial entrepreneurs Aprameya Radhakrishna, founder of TaxiForSure and Mayank Bidawatka who previously founded companies like MediaAnt and Goodbox. Founded in March 2020, Koo gives users option of multiple Indian languages.
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. Tiger Global is the right partner to have on board to realize this dream."
The fresh round of funding will be utilised mainly to strengthen engineering, product and community efforts across all Indian languages at Koo.