Twitter rival Koo in India has raised US $ 30 million (about Rs 218 crore) through Series B funding under the leadership of Tiger Global. Koo said in a statement that current investors Excel Partners, Kalari Capital, Bloom Ventures and Dream Incubator also participated in the latest round of funding. Apart from this, IIFL and Mirae Assets have emerged as new investors.
The company said in the statement that the new funding will be used primarily to strengthen engineering, product and community efforts in Koo in all Indian languages. Koo was founded by entrepreneurs Ammeya Radhakrishna and Mayank Bidawatka, who had previously founded companies such as MediaAnt and Goodbox.
What is Koo?
It is a micro blogging platform like Twitter. It is available as a website and on iOS and Google Play Store. You can post your thoughts publicly here and can also follow other users. Posts from other users are visible in a feed. Here the character limit is 400. A person can sign up for Ku using his mobile number. Users also have the option to link their Facebook, LinkedIn, YouTube and Twitter feeds to Kuo profile.
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The company said in a statement that it has garnered around 6 million downloads in just one year of operation. Some of the big names present on this include Bollywood veteran Anupam Kher, Kangana Ranaut, Union ministers Ravi Shankar Prasad, Piyush Goyal and Smriti Irani, senior Congress leaders Kamal Nath, JDS supremo and former Prime Minister Deve Gowda, NCP’s Supriya Sule, Bhim Army’s Chandrasekhar Azad is included.