Homegrown micro-blogging platform Koo has raised USD 30 million (about Rs 218 crore) in Series B funding, led by Tiger Global with existing investors also participating in the latest round.
Koo has garnered nearly 60 lakh downloads in just a year of operations.
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“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.
Existing investors Accel Partners, Kalaari Capital, Blume Ventures and Dream Incubator also took part in the round, Koo said in a statement. IIFL and Mirae Assets are other new investors who have come on board the cap table with this round, it added.
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 of 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.
