Kuku FM on talk to raise $20 Mn from KRAFTON
- ByStartupStory | March 7, 2022
Kuku FM, a Mumbai-based vernacular audio platform has been in its advanced stages of closing its Series B round of funding led by KRAFTON, a South Korean gaming giant.
Somewhere between $15 Mn – $20 Mn is being raised by the audio tech startup in its Series B funding round. Existing investors including 3one4 Capital, Shunwei Capital, Vertex Ventures, India Quotient, will also be participating in the round along with the angel investors.
The investment comes almost two years After it bagged $5.5 Mn in its Series A funding round led by Vertex Ventures in participation with Shunwei Capital, India Quotient, and 3one4 Capital, the investment came in almost after two years.
An active investment in Indian startups has been seen form KRAFTON, a South Korean gaming giant for some time now. KRAFTON invested $5.4 Mn in a mobile game development studio- Nautilus mobile, wholly-owned by digital entertainment company JetSynthesys, earlier last month. Last year, worth $48 Mn was also invested in Pratilpi’s Series D round and gamified dating app FRND.
Kuku FM was founded by Vikas Goyal, Vinod Meena, and Lal Chand Bisu in the year 2018. It is a non-music audio platform that offers long-form audio stories to podcasts. A wide range of genres from fiction and nonfiction audiobooks, self-help education titles, entertainment, news, mythology, spirituality, learning and inspirations, stories, poems, and even jingles are the offerings being covered by Kuhu.
With over 6 Lakh of premium listeners, the startup claims to have over 1 Cr listeners and creators on its website. The audio books with five vernacular languages including Hindi, Marathi, Gujarati, Bengali, Tamil, among others have been offered by the startup, It also claims that its users have listened for over 10 Cr hours.
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