Chinese investor set to exit Koo's parent company, says CEO Aprameya Radhakrishna

Koo gained popularity after the government's push for local startups under the 'Atmanirbhar Bharat' scheme

Micro-blogging platform Koo, the Indian alternative to Twitter, is set to become a 'truly Atmanirbhar app' as the CEO of the company announced that its Chinese investor would be permanently exiting the firm.

The recent spike in Koo's popularity came after the latest Twitter controversy wherein the site has come under fire over the suspension of accounts that the BJP govt finds objectionable. Before that, a push by the government's 'Atmanirbhar Bharat' scheme for local startups put it on the map.

Koo CEO Aprameya Radhakrishna said that Shunwei Capital had invested in Bombinate Technologies, the parent company of the micro-blogging platform and Vokal, a vernacular knowledge platform.

“Shunwei had invested in the earlier brand Vokal. We have pivoted our business and focused on Koo, they are on their way out. They are being bought out by other people. We are a truly Atmanirbhar Bharat app,” Radhakrishna told CNBC-TV18.

The Chinese investor is a small stakeholder in the company which will be eventually bought out, he said. "They are in the process of exiting," Radhakrishna added.

"Koo is an India registered company with Indian founders. Raised earlier capital 2.5 years ago. Latest funds for Bombinate Technologies is led by a truly Indian investor 3one4 capital. Shunwei (single digit shareholder) which had invested in our Vokal journey will be exiting fully," Radhakrishna tweeted.

Following its launch in March last year, Koo has gained nearly 3 million downloads. Various BJP ministers and actor Kangana Ranaut have joined the platform.