Kuku FM, an audio and video content platform, has raised $85 million in its Series D funding round, led by Granite Asia (formerly GGV Capital). The round includes both primary funding and secondary share sales.
Existing investors such as Vertex Growth Fund, Krafton, IFC, Paramark, Tribe Capital India, and Bitkraft also participated in this financing round.
The company plans to use the new capital to scale content creation, expand its creator base, enhance platform technology, and reach more listeners across Bharat.
To date, Kuku FM has raised $156 million, including a $25 million Series C round led by the International Finance Corporation (IFC) and Nandan Nilekani’s Fundamentum Partnership in October 2023. The platform’s last valuation was approximately $185 million.
Founded in 2018 by Lal Chand Bisu, Vikas Goyal, and Vinod Kumar Meena, Kuku FM monetizes through paywalled subscriptions for audiobooks, targeting both individuals and businesses. It offers diverse audio content spanning genres such as business, self-help, personal finance, history, religion, entertainment, and fitness, delivered in multiple Indian languages. The platform includes audiobooks, stories, courses, and podcasts for audiences in India and other markets.
According to TheKredible, Kuku FM’s revenue from operations surged 2.1x year-on-year, reaching Rs 88 crore in FY24 compared to Rs 41 crore in FY23, while its losses decreased by 18% to Rs 96 crore in FY24. The company has not yet filed its FY25 financial statements.
Kuku FM faces competition from platforms like Pocket FM, Awaz, Headfone, and to some extent Pratilipi. The micro-drama segment is expected to become increasingly competitive as new entrants join the market. Notably, real-money gaming platforms such as WinZO and Zupee have announced plans to pivot toward micro-drama content.
