Micro Blogging Site Koo Raises $4.1 Mn In Series A Round This investment marks the entry of 3one4 Capital as an investor in the startup
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Indigenious built micro-blogging platform Koo on Thursday announced raising of $4.1 million as part of Series A round from 3One4 Capital. Existing investors such as Accel Partners, Kalaari Capital, Blume Ventures and Dream Incubator also participated in the round.
The new funding will be used to ramp up capabilities to solve Indian engineering challenges and for marketing to increase awareness about the app. Founded in March 2020, Koo is an inclusive micro-blogging platform in Indian languages where people from across different regions in the country can express themselves in their mother tongue. Just 10 per cent of India speaks English.
The company claims to provide a voice to Indians who prefer Indian languages. The company has received immense popularity among people speaking in Hindi, Telugu, Bengali, Kannada, and others.
Commenting on the investment Anurag Ramdasan, principal, 3one4 Capital, said: "Koo is a very valuable and powerful platform in the Indian context. Social platforms focused on India need to be highly contextualised to the audience here beyond languages and must include community, moderation and content relevance. Both Aprameya and Mayank are proven entrepreneurs and have built large internet businesses before. We are happy to partner with them to make this Atmanirbhar vision become a reality and to build sustainable and socially relevant platforms."
Aprameya Radhakrishna, co-founder and chief executive officer of Koo, said his platform enables free expression of thoughts and opinions for every Indian irrespective of the language preference. "Koo will amplify the daily voices of India on an Indian platform," he added.
