Homegrown microblogging platform Koo has raised $30 million (about Rs 218.04 crore) in a Series B funding round led by global alternative investments firm Tiger Global Management. South Korean financial services firm Mirae Asset Management and IIFL joined the round as new investors.
Early-stage investors Accel, Kalaari Capital, Blume Ventures, and Dream incubator were returning investors in the round.
Tiger Global’s bet on Koo comes at a time when the latter’s global rival Twitter, among other social media platforms, is at odds with the Indian government on non-compliance with the new rules for intermediaries. The deadline for compliance was May 25 and the global platforms have sought an extension.