[Funding alert] Koo raises $10M from multiple investors
Microblogging platform Koo raised the funding round in two tranches, with the participation of investors such as Capsier Venture Partner, and FBC Venture Partners among others
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, the microblogging platform founded by Aprameya Radhakrishna and Mayank Bidawatka has raised around $10 million in two different trances from multiple investors, according to regulatory filings.
The investors in this round of funding include Capsier Venture Partner, Ravi Modi Family Trust, Ashneer Grover, FBC Venture Partners, Adventz Finance etc.
According to the regulatory filings, Koo in the month of January had allotted CCPS to the tune of Rs 28 crore and later followed it up with another similar issue to raise Rs 51 crore.
Koo had raised its Series B funding round last year from Tiger Global, Accel Partners, and Blume Ventures.
In an earlier interaction during October last year, Aprameya noted that Koo’s user base touched about 15 million.
According to the Koo co-founder, Koo App will maintain its sharp focus on the Indian market, onboarding more and more users, even as it plans to venture into one new market in Southeast Asia after June 2022.
"We have seen rapid growth. We are making sure that everything that India celebrates, whether it is language or culture, is resonating on Koo... Be it the cricket, politics, movies, spiritual leaders and their following, everything is being celebrated on Koo in their (users') languages," Aprameya said.
When asked which locations could be in the reckoning as Koo charts out plans for venturing into new markets, Aprameya noted that Indonesia, Malaysia, and the Philippines were among promising markets. Koo will study various markets and finalise its pick, closer to the date.
Offering microblogging experience in local languages and for people speaking local languages, has been Koo's forte. "The premise of entering any market is whether they have significant local language aspect to their community and culture. Those are the countries, that we will enter," Aprameya said.
Koo was launched in 2020 and supports multiple languages including Hindi, Telugu and Bengali, among others.
Edited by Kanishk Singh