Bengaluru – Well India’s very own microblogging app, Koo has raised $30 million in Series B funding. Tiger Global has led the investment round with existing investors, Accel Partners, Color capital, Bloom 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 for opinions voiced in Indian languages. It has garnered nearly 6 million downloads in just a year of operations with an impressive community posting content every day.
So well Koo as all of us know. And those who are still unfamiliar with this new microblogging site, then this news might be good news for the users and the new users as well. Mr. Aprameya Radhakrishna and Mayank Bidawatka are the founder of Koo Social Media App.
Aprameya Radhakrishna said – “Koo out to build one of the largest social media networks of the world. India has a population, an internet-using population of 650 million or more, which makes it, the second-largest internet-using population in the world after China. So there’s a lot of headroom to grow.”
“We need to build a world class products to build that world class product, we need world class resources, right? Whether it’s in product engineering, design, our community managers, everybody, right? So I think this fundraise gives us a boost to make sure that we can chase our dreams.”
Yeah, so I think, you know, for every country, you know, there has been a wave in the US with, you know, the United States has built out awesome platforms for the world for the English speaking world.
“China, with a protected market, has built out their internet system. And being the third-largest market and with, you know, the third-largest unicorns in the world. You know, I think it’s time for India to build out its technology ecosystem, as well, like there will be hundreds of more companies that will build for India, and a few of them will also envelop the interest of the world. So I think it’s a very critical moment for and a great move to become self-reliant when taking our technology to the world.”
“Yeah, as an India registered company, I think, you know, we as a company an Indian citizen, both the founders me and Mayank, are Indian citizens. I think You know, respecting the laws of the land is very natural. And as a, you know, law-abiding citizen and a company, we will go with, you know, what the government puts out as a framework to work in the country, right.”
“And, you know, everything that is user-centric, so everybody, whether it’s the government, the users, and the platforms themselves, are all focused on making sure that the user is comfortable. So I think the present guidelines are there in that direction, and we will be in constant dialogue with users as well as the regulatory bodies to make sure that you know, India comes out as a great country to run digital social media platforms from.”
Image via – https://www.kooapp.com/
