The buzz around Koo is getting louder and so does investor’s appetite to invest in the micro-blogging platform, which seems to be giving major headache to Twitter. The unprecedented hype around Koo has come at a time when Twitter is locked in a row with the Indian government over censorship issues. Antagonized by Twitter’s refusal to abide by Government’s censorship request, scores of netizens started looking for Twitter’s Indian alternative and their collective search led to Koo.
Now amid this hype, Koo is looking to raise fresh funds from several high profile investors. These investors include big names like BookMyShow’s Ashish Hemrajani, Zerodha’s Nikhil Kamat and Bounce’s Vivekananda and several other investors.
However, these talks are still ongoing and the final picture on the upcoming funding will be probably clearly in a matter of few days or weeks. Koo said “It is a clear indication that the company is getting more and more Indian money into the company.”
The company further added that the upcoming round will pave way for a complete exit of existing Chinese investor Shunwei Capital. New investors will partly buy Shunwei Capital’s stake while its remaining stake will be bought by other existing investors including 3one4 Capital, Kalaari and others.
It must be noted that barely a week ago Koo had raised $4.1 Mn in a series A funding round that was led by 3one4 Capital while existing investors Accel, Kalaari Capital and Blume Ventures had also participated in the round.
Founded in 2020, Koo is a micro blogging platform that is exclusively designed for Indian netizens. It allows netizens to comment, connect and engage in 13 different Indian languages. In other words, it is the Indian version of the American Twitter.
Since its inception, the Koo app has clocked up to 3 Mn downloads on Android and IOS platforms.