Wednesday , October 5 2022
Krafton has invested in this audio content platform.

Kuku FM Secures $19.5 Mn Funding From BGMI Makers Krafton

Kuku FM, an audio content platform has raised collection B funding of 19.5 million dollars driven by South Korean gaming giant, Krafton Inc. The round additionally noticed participation from its present buyers such as 3one4 Capital, Vertex Ventures, and India Quotient, with Founder Bank Capital and Verlinvest becoming a member of as new investors. With this most recent round of funding, Kuku FM has secured a sum of 25 million dollars since its beginning in 2018.

According to the official statement, Kuku FM will utilise this investment to widen its language contributions and combine content creation.

“Kuku FM is pioneering a brand new class for audio content by bringing premium, distinctive, and immersive digital audio experiences to our customers. We have seen an unprecedented consumption of audio content amongst customers in our nation with 70 per cent customers coming from Tier 2 cities. We are excited to witness the evolution of this style”.

He further added that the synergy of vision with KRAFTON and are thrilled to have them onboard as an integral investing partner. With this momentum, we are confident about hitting 10Mn active paid users by the end of this year and 50 million paid users by 2025.

Sean Hyunil Sohn, Head of India Division at KRAFTON, Inc. said, “We are very excited to companion with Kuku FM and assist them in their journey of constructing a robust creator and listener ecosystem which continues to develop at an incredible tempo creating many distinctive native IPs .Here at KRAFTON Inc., we strongly {believe} that Indian IPs and regional Indian languages content progress will unlock subsequent large monetization alternative not simply in India however even globally in the long run and Kuku FM group is finest positioned to seize this alternative in the audio class.”

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