[Funding alert] Koo raises $10 million from multiple investors
the microblogging platform founded by Aprameya Radhakrishna and Mayank Bidawatka raised about $10 million in two different trances from multiple investors, according to regulatory filings.
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 documents, Koo in January awarded the CCPS to the tune of Rs 28 crore and then followed it up with another similar issue to raise. Rs 51 billion.
Koo had raised its Series B funding round last year from Tiger Global, Accel Partners and Blume Ventures.
In an earlier interaction in October last year, Aprameya noted that Koo’s user base was touching 15 million.
According to Koo’s co-founder, Koo App will continue to focus on the Indian market, integrating more and more users, although it plans to venture into a new market in Southeast Asia after June 2022.
“We have grown rapidly. We ensure that whatever India celebrates, be it language or culture, resonates with Koo… Be it cricket, politics, films, chefs spirituals and their followers, everything is celebrated on Koo in their (user) languages,” Aprameya noted.
When asked which locations could be considered as Koo develops plans to venture into new markets, Aprameya noted that Indonesia, Malaysia and the Philippines were among the promising markets. Koo will study different markets and finalize their choice, closer to the date.
Providing a microblogging experience in local languages, and for people who speak local languages, has been Koo’s forte. “The premise of entering a market is whether it has a significant local linguistic aspect in its community and culture. These are the countries we will enter,” said Aprameya.
Koo was launched in 2020 and supports multiple languages including Hindi, Telugu, and Bengali, among others.