Tiger Global leads $30 mn investment in microblogging website Koo

Koo's valuation crossed $100 million with the new funding, says the company.

India-made microblogging website Koo has raised $30 million in Series B funding led by Tiger Global. Existing investors Accel Partners, Kalaari Capital, Blume Ventures and Dream Incubator participated in the round as well.

IIFL and Mirae Assets are other new investors who have come on board the cap table with this round.

Koo’s valuation crossed $100 million with the new funding: up from about $25 million in February. In March, startup A-listers such as BookMyShow founder Ashish Hemrajani, Udaan co-founder Sujeet Kumar, Flipkart CEO Kalyan Krishnamurthy, Zerodha co-founder Nikhil Kamat bought Shunwei Capital’s stake in the company. This allowed Shunwei, the sole Chinese investor, to exit from Bombinate Technologies, the parent company of Koo.

Koo said it would use the fresh round of funding to strengthen engineering, product and community efforts in Indian languages.

“We have aggressive plans to grow into one of the world’s largest social media platforms in the next few years. Every Indian is cheering for us to get there soon. Tiger Global is the right partner to have on board to realize this dream,” said Aprameya Radhakrishna, Co-Founder and CEO of Koo.

Tiger Global has this year led funding rounds in Cred, Innovaccer, Infra.Market, Groww, ShareChat and Gupshup, helping the Indian companies to become unicorns.