Koo Founder Mayank Bidawatka Raises $250K for New Venture Billion Hearts
Summary
Mayank Bidawatka, co-founder of the now-defunct Koo platform, has raised $250,000 in an angel funding round for his new venture, Billion Hearts Software Technologies, according to a recent report by the Economic Times. The startup, which will focus on developing digital products for global consumers, is currently operating in stealth mode.The angel round is backed by 13 investors, including the co-founders of well-known companies like redBus, Ola, InMobi, and Myntra, along with the former CTO of Flipkart, Puneet Chawla, founder of Jaypore, and Narasimha Reddy, CFO of MoEngage.Billion Hearts is developing a consumer-facing application expected to enter beta testing between December 2024 and January 2025, with an initial group of select users. In India alone, the venture sees a billion-dollar revenue potential.The startups first product will be for global smartphone users, with plans to expand its workforce from 10 to 15 employees. Ankit Bhati, co-founder of Ola, also lauded the potential for disruption, while Darshit Vora, partner at Acherman Capital, noted the products relevance to Gen Z smartphone users.Reflecting on his previous experience with Koo, Bidawatka stated that one key lesson was the importance of monetizing early to ensure self-sufficiency.The ventures notable backers include Phanindra Sama, Ankit Bhati, Piyush Shah (InMobi), Raveen (Myntra), Narasimha Reddy (MoEngage), Mekin Maheshwari (Flipkart), Puneet Chawla (Jaypore), and others.Bidawatka announced plans for a new consumer technology product in July. A small team of seven people is already working on the initiative, driven by passion and belief rather than immediate commercial interests.Koo had gained popularity in India, especially during tensions between the Indian government and Twitter in 2021, but ultimately failed to secure necessary partnerships and funding to continue operations.