Koo raises $30 million funding led by Tiger Global

Twitter-rival Koo has raised $30 million (about ₹218 crore) in Series B funding, led by Tiger Global with existing investors also participating in the latest round.

Existing investors Accel Partners, Kalaari Capital, Blume Ventures and Dream Incubator also took part in the round, Koo said in a statement. IIFL and Mirae Assets are other new investors who have come on board the cap table with this round, it added.

Notably, the fund raising comes amid new IT intermediary rules taking effect, translating into greater accountability and scrutiny for social media companies, including Twitter and Facebook. Koo has close to 60 lakh users, making it a major social media intermediary under the new guidelines.