Koo Micro-Blogging App Raises $30 Million Amid Speculation on Twitter Ban in India

Koo Micro-Blogging App Raises $30 Million Amid Speculation on Twitter Ban in India

Mumbai, May 26: Homegrown micro-blogging platform Koo on Wednesday said it has raised $30 million in Series B funding, led by Tiger Global.

Koo has garnered nearly 60 lakh downloads in just a year of operations.

“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 realise this dream,” said Aprameya Radhakrishna, Co-Founder and CEO of Koo. Facebook & Twitter Likely To Face a Ban in India if Failed To Comply With New Intermediary Guidelines: Report

Koo’s 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, the company informed.

Koo last week said it has met the compliance requirements of the new IT (Intermediary Guidelines) Rules 2021 ahead of its May 25 deadline set by the Ministry of Electronics and Information Technology (MeitY).

Koo said earlier this month announced to launch a unique feature that will help users speak and type messages without using the keyboard in regional languages, apart from English.

Called ‘Talk to Type,’ the feature will help Koo users speak out their thoughts and the words will show up on the screen at the click of a button.

Founded last year, the vernacular micro-blogging platform Koo crossed 60 lakh users within no time and aims to garner 10 crore users by the end of this year.

(The above story first appeared on Onhike on May 26, 2021 11:33 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website onhike.com).

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