Kuku FM revealed a $19.5 million fundraising round led by gaming behemoth Krafton. Shareholders such as 3one4 Capital, Vertex Ventures, and India Quotient also joined in the investment round. The new funds will be used to expand the company’s language offerings and consolidate its content production approach, according to the company.
Kuku FM gives its users with content creation tools, enabling, developing, and publishing material. It provides content in five different languages: Hindi, Marathi, Bengali, Tamil, and Gujarati. “By providing our users with a quality, distinctive, and digital audio experience, Kuku FM is pioneering a new category for audio content.” We’ve found an exceptional use of audio content among our country’s users,” CEO Lal Chand Bisu.
Krafton Funded $19.5 Million To Kuku FM
The gaming titan made the most recent investment in the start-up business. The BGMI developers contributed $19.5 million to assist Kuku FM in expanding and strengthening its content offerings.
South Korean game developer and creator of the wildly famous Battlegrounds Mobile India (BGMI) AND PUBG has led a $19.5 million Series B fundraising round in local audio content network Kuku FM. The cash will be used to expand and broaden the company’s content, according to the local company. Currently, Kuku FM has 6 million paying active users. Kuku FM has received a total of $25 million in funding since its establishment in 2018.
“We are really thrilled to collaborate with Kuku FM and support them in their quest of building a strong artist and listener ecosystem that is growing at an incredible rate and creating many unique local IPs.” “Here at Krafton Inc, we strongly think that the expansion of Indian IPs and regional Indian languages content will unleash the next big monetization potential, not just in India, but also globally,” said Sean Hyunil Sohn, head of Krafton Inc’s India business.