Bengaluru: Existing investors, along with a few Indians,have bought out China’s Shunwei Capital’s minority stake in Bombinate Technologies Pvt Ltd, the parent company of Vokal and India’s homegrown microblogging platform Koo.
The Indians, 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 nine per cent in Bombinate Technologies, a company statement said on Wednesday.
Srinath said: “The fact that they are building a platform to bring the voices of Indian language audiences onto the internet is commendable and as an Indian I extend my support to them wholeheartedly.”
Aprameya Radhakrishna, CEO and Co-founder, 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 while we were raising funds for Vokal and have now fully exited the parent company Bombinate Technologies.”