PE-VC Fund Investments
Mobile entertainment platform Kuku raises $85-M led by Granite Asia
Mumbai-headquartered mobile entertainment app Kuku has raised USD 85 million led by Granite Asia (formerly GGV Capital), with participation from Vertex Growth Fund, Krafton, IFC, Paramark, Tribe Capital India, and Bitkraft.Founded in 2018, Kuku is a storytelling platform across multiple formats and has two flagship platforms, Kuku FM and Kuku TV.The fresh funds will be used by the company for content creation and building tools to support creators and storytelling.
Between Sep-18 and Sep-23, Kuku FM had attracted about USD 71.54 M from India Quotient, Shunwei Capital, 3ONE4 Capital, Vertex, CapitalG, FounderBank Capital, Krafton, RB Investments, SWC Global Fund, Verlinvest, Fundamentum, IFC, and others.For FY24, Kuku FM had reported about INR 87.95 Cr in Operating Income and about INR 95.80 Cr in Net Loss.
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