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. 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 said the fresh funds will be utilised primarily to strengthen engineering, product and community efforts across all Indian languages. Aprameya Radhakrishna, co-founder and CEO of Koo, said “We have aggressive plans to grow into one of the world’s largest social media platforms in the next few years.

Source: Mint May 26, 2021 04:52 UTC