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Kuku FM has received $21.8 million investment

Paramark Ventures, Krafton Inc--the South Korean gaming giant, 3one4 Capital and Vertex Ventures, also participated in this round of funding.

September 22, 2022 7:14 IST | India Infoline News Service

Audio streaming startup Kuku FM announced that it had secured $21.8 million in funding, the majority of which came from Nandan Nilekani's venture fund Fundamentum Partnership.

After receiving $19.5 million in March from a group of investors including Google, Verlinvest, and other investors, led by Krafton Inc., this is Kuku FM's second fundraising round in 2022.

In order to reach its goal of having over 10 million paying subscribers by the end of the next year, the company will use the capital to grow its catalog, develop its environment for content production, and provide listeners with more language options.

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