Shunwei Capital exits Koo, sells stake in parent company

Chinese investor Shunwei Capital has exited Koo by selling its stake in Bombinate Technologies, the parent company of the local microblogging platform, to existing investors along with a bunch of individuals. Prominent personalities, including former Indian cricketer Javagal Srinath, BookMyShow founder Ashish Hemrajani, Udaan co-founder Sujeet Kumar, Flipkart CEO Kalyan Krishnamurthy and Zerodha founder Nikhil Kamat, have participated in the round to buy out shares of Shunwei Capital.

Shunwei Capital had held a bit more than 9% in Bombinate Technologies. The company said it has been proactive in its actions of cleaning up its cap table and has doubled down on its commitment to build an Aatmanirbhar app for India and the world.

“I am very happy to be backing Koo… they are building a platform to bring the voices of Indian language audiences onto the internet. This is commendable and as an Indian I extend my support to them wholeheartedly,” Srinath said.

Aprameya Radhakrishna, CEO and co-founder of Koo, said, “As earlier stated, we had been in discussion with Shunwei Capital to enable a smooth exit after it invested in our company 2.5 years ago… have now fully exited the parent company Bombinate Technologies.”

Koo is a microblogging platform for thoughts and opinions voiced in Indian languages. Users can easily create their thoughts using text, audio or video in multiple Indian languages and share them with the community at large. The platform facilitates active conversations as creators can express themselves and users can follow creators of their choice to create a customised feed.