Koo in talks to raise funds
Koo, which has about 60 lakh users on its platform, sees a lot of headroom for growth and is investing on expanding its infrastructure and strengthening its headcount.
New Delhi: Twitter rival Koo is in discussions with investors to raise funding and hopes to close a deal in the next 3-4 months, Koo co-founder Aprameya Radhakrishna said. Koo, which has over the past few months seen a massive surge in user base in the country, is looking at raising “more than what was raised in the last round”.
In February, Koo said it had raised $4.1 million in series A funding from Accel, Kalaari Capital, Blume Ventures and Dream Incubator, and 3one4 Capital. In all, it has raised about $10 million in total funding through multiple tranches.
“We raised some money in January and we are in talks with folks who are quite interested to invest money. Talks are on, we will see what works out,” Radhakrishna told PTI. He added that the company is pretty hopeful of closing a transaction in next 3-4 months.
While Radhakrishna remained tight-lipped about the amount of funding Koo is looking at raising, he said the platform would want to raise more than what it had raised in the previous round. “The kind of appetite for social media is being seen in the VCs,” he said.
Koo, which has about 60 lakh users on its platform, sees a lot of headroom for growth and is investing on expanding its infrastructure and strengthening its headcount. “Koo is a social media platform, which needs to be built over the next decade or so. We will have stages of raising money and different amounts at different stages based on our performance,” Radhakrishna said.
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