Audio content platform Kuku FM has raised $25 million in a Series C funding round, reports The Economic Times.
It was co-led by Nandan Nilekani’s Fundamentum Partnership and International Finance Corporation with Vertex Ventures also participating. The funds will be used to boost its content ecosystem across Indian languages and focus on technology, the report says.
The platform has created a niche category that focuses on the evolving demands of the current generation in India, says Prateek Jain, Principal at Fundamentum Partnership.
Founded in 2018 by Lal Chand Bisu, Vikas Goyal, and Vinod Kumar Meena, Kuku FM has about 2.5 million paid subscribers. It offers nearly 150,000 hours of content in diverse formats including audiobooks, stories, book summaries, courses, and podcasts.