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India’s own Microblogging app Koo has raised $30 million
in Series B funding. Tiger Global has led the investment round with
existing investors Accel Partners, Kalaari Capital, Blume 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. The capital infusion comes at a time when social
media platforms, including the US-based Twitter, are facing
increased government scrutiny over alleged non-compliance with
India’s new IT rules for significant social
media intermediaries. Koo has complied with the rules.
The fresh round of funding will be utilised mainly to strengthen
engineering, product and community efforts across all Indian
languages at Koo. In February, Koo had raised $4.1 Mn in a Series A
funding round led by 3one4 Capital, with participation from Accel
Partners, Kalaari Capital, Blume Ventures and Dream Incubator.
After this round of investment Koo’s valuation jumps to $150
million almost five times of its current value.