After gaining support from the Indian Government, the Indian Microblogging Platform “Koo App” is now gaining attention from the Indian investors. Several Indian investors are reportedly planning to invest in the parent company of the Koo App. Some popular names are BookMyShow, Bounce, Zerodha and more.
The Current Investors of Koo App
Recently, 3one4 Capital (An early-stage venture capital fund based in Bangalore, India) has invested $4M in the Bombate Technologies who are responsible for creating the Koo App. Beside 3one4 Capital, Accel is also the most recent Investors of the Koo App.
So far, Koo App has raised $8M in funding over 2 rounds. The latest funding was raised on February 4, 2021 from a series A round. So far the app has been funded by 5 investors whose name are Accel, Blume Ventures, Kalaari Capital, 3one4 Capital, Dream Incubation.
Those of you who might not know, last year, Koo app won the Atmanirbhar Bharat App Challenge and the recent rush in between the Indian Government Ministers and Twitter over the farmer protest is giving this app a free promotion.
Today, In the Parliament, IT Minister, Ravi Shankar Prasad warned some of the biggest Social Media Websites and Services to abide by the India’s law. He said all the social media websites and services are welcome with greeted hands to operate in India but they do have to follow the Indian Constitution.
In the past few days, the app has been in news and people are now considering it as an alternative to Twitter. Seems like thats the reason, Investors are now eyeing on this app and investing their money in.
Yesterday, Union Minister Piyush Goyal asked his followers on Twitter to follow him on Koo.
Seeing all this, it seems like this is the right time for the Koo App to evolve as an Indian alternative to foreign social media. Now, it will be interesting to see, whether the Koo App will achieve the same or not.