New Delhi: The Central government has given a clarification that the Chinese company's investment in microblogging app Koo is in accordance with the rule and the app has been developed in the country itself. In fact, the Koo app came up for a lot of discussion in recent times, when it started joining a large number of government departments and celebs. It was described as a homegrown version of Twitter. But the controversy over the app began when news spread that chinese company Shunwei Capital had invested in bombinate technology, the parent company of the app. However, its investment in the company is less than 9 per cent.

In fact, the question was raised in the Lok Sabha as to whether the government is aware that a Chinese firm has invested in the parent company of the Koo app? In a written reply to the question, Minister of State for Electronics and Information Technology Sanjay Dhotre said on Wednesday that 100 per cent investment was allowed from the automatic route in IT companies before April 17, 2020. This investment happened before that, so according to the rule. On April 17, 2020, the government came up with a new notification, which provided for stricter checks for FDI coming from neighbouring countries.

The major investors in the app are former cricketer Javagal Srinath, book my show founder Ashish Hemrajani, Uda's co-founder Sujit Kumar, Flipkart CEO Kalyan Krishnamurthy and Jeroda's founder Nikhil Kamat.

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