According to the most recent filings with the Ministry of Corporate Affairs, indigenous microblogging platform Koo has received Rs 51.08 crore ($6.3 million) as part of its ongoing round (MCA).
The startup received Rs 16.47 crore from investors Accel India and Tiger Global’s Internet Fund VII through the issuance of B4 compulsory convertible preference shares. Both have prior investments in the company.
3one4 Capital and Kalaari Capital have also contributed Rs 8.24 crore each. DI India Digital India Partnership, based in Tokyo, has invested Rs 1.64 crore.
This is the company’s second fundraise of the year, based in Bengaluru. It previously received $10 million in February. Tiger Global Management, South Korean financial services firm Mirae Asset Management, and IIFL invested $30 million (approximately Rs 218.04 crore) in the company in a Series B funding round in May 2021.
The company, which recently launched in Brazil, has been gaining traction as users question recent decisions at its rival Twitter, which Elon Musk, the world’s richest person, purchased last month. It quickly became Brazil’s most downloaded application after its release.
In September, the company had to lay off a few employees.
In 2020, Radhakrishna, a former Taxiforsure co-founder, and Mayank Bidawatka, a former redBus marketing head, launched Koo. Bombinate Technologies’ app focuses on providing regional language capabilities for Indian internet and mobile users who want to express themselves online.
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