PE Fund Investments
Podcast platform Kuku FM raises $19.5 M led by South Korea's Krafton
Mumbai-based audio content platform Kuku FM has raised USD 19.5 million in its Series B round led by South Korean gaming giant Krafton Inc. The round also saw participation from its existing investors including 3one4 Capital, Vertex Ventures, and India Quotient. Founder Bank Capital and Verlinvest have also joined as new investors, as a part of the current round. Kuku FM has raised a total of USD 25 million in equity funding since its inception in 2018, including this round. Kuku will use the funds to broaden its language offerings and consolidate its content creation strategy. Founded by Vinod Kumar Meena, Lal Chand Bisu and Vikas Goyal, Kuku FM provides content creation tools to its users. It offers content in Hindi, Marathi, Bengali, Tamil, and Gujarati. Genres available on the platform include fiction and nonfiction audiobooks, self-help education titles, entertainment, news, mythology, spirituality, among others. The podcast platform claims to have over 30,000 creators.
From the Venture Intelligence PE-VC Deal Database: Between Sep-18 and Jan-20, Kuku FM raised $6-M from Shunwei Capital, 3ONE4 Capital, India Quotient, Vertex, and others. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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