Yes, I am currently writing a masters thesis about it! It is a "research language that [is] currently under heavy development" as the README says so I don't recommend using it for anything other than a research/toy project. But you would be surprised how well it works: Algebraic effects can give you 98% the power of monads while being much faster and easier to understand. And then Koka uses mimalloc [0], Perceus [1] and tail recursion modulo cons which make Koka programs almost as fast as C++. For example, in the benchmarksgame, Haskell takes 5x as much time on the binarytrees benchmark as the fastest implementation, while Koka is 50% slower (similar to other C/C++ and Rust implementations).
No, that seems wrong. Its currently only Daan working on this, but as you can see the last commit to 'master' was 7 days ago and the last commit to 'dev' yesterday...
Daan is employed full-time at MS Research and gets to spend this time on Koka (when he is not writing conference papers). There is currently no further funding or deployment of Koka within Microsoft that I know of (unlike mimalloc which seems to be used by Azure and Bing).
[0]: https://github.com/microsoft/mimalloc [1]: https://news.ycombinator.com/item?id=25464354