Koo raises $30 mn Series B funding led by Tiger Global

NEW DELHI: Homegrown alternative to Twitter, Koo, on Wednesday said it has raised $30 million in Series B funding led by New York-based investment firm Tiger Global. Existing investors including Accel Partners, Kalaari Capital, Blume Ventures, 3one4 Capital, and Dream Incubator also participated in the round.

IIFL’s venture capital fund and South Korea’s Mirae Assets are other new investors who have come on board with this round.

The funding 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 already complied with the rules.