PUBG maker Krafton leads $19.5 million funding round in Indian audio content platform Kuku FM

Advertisement
PUBG maker Krafton leads $19.5 million funding round in Indian audio content platform Kuku FM
Kuku FM
South Korean gaming giant Krafton has pumped in $19.5 million in homegrown audio content platform Kuku FM, the startup announced on Thursday.
Advertisement

With 6 million active paid users, Kuku FM said it will use the funds to drive expansion and strengthen its content.

"We are confident about hitting 10 million active paid users by the end of this year and 50 million paid users by 2025," said Lal Chand Bisu, Co-founder and CEO, Kuku FM.

Complimentary Tech Event
Discover the future of SaaS in India
The 6-part video series will capture the vision of Indian SaaS leaders and highlight the potential for the sector in the decades to come.Watch on Demand
Our Speakers
Girish Mathrubootham
Brian E. Taptich
The Series B round also saw participation from existing investors including 3one4 Capital, Vertex Ventures, and India Quotient, with Founder Bank Capital and Verlinvest joining as new investors.

With this funding, Kuku FM has secured a total of $25 million since its inception in 2018.

Advertisement

Offering content in five languages (Hindi, Marathi, Bengali, Tamil and Gujarati), Kuku FM hosts 150,000 hours of content across audiobooks, stories, book summaries, courses and podcasts on its platform.

With 30,000 creators, 50 per cent of the content is exclusive to the platform and only available on Kuku FM.

"We strongly believe that Indian IPs and regional Indian languages content growth will unlock next big monetisation opportunity not just in India but even globally in the long term," said Sean Hyunil Sohn, Head of India Division at Krafton.

Krafton owns PUBG Studios, Bluehole Studio, Striking Distance Studios, RisingWings, Dreamotion and Unknown Worlds.

SEE ALSO
HUL, Future Retail, Dr Reddy’s, Bharti Airtel among stocks to watch out for on March 10
Advertisement
Early Trends: BJP leads in UP, Uttarakhand & Manipur; AAP in Punjab; Cong in Goa
Uttarakhand elections 2022: Former CM Harish Rawat of Congress leading in Lal Kuan seat
{{}}