September 22, 2022
Kuku FM‘s operating company, Mebigo Labs Pvt Ltd, said today that it has raised $21.8 million in a series B financing led by Fundamentum Partnership, Nandan Nilekani’s company.
Partial list of investment participants in the round
1.Paramark
2.Krafton
3. 3one4 Capital
4.Vertex
5.Verlinvest
6.FounderBank Capital
With the funding, Kuku FM hopes to increase the number of languages available to listeners, develop its environment for content creation, and grow its catalogue.
By the end of 2023, the company hopes to have a base of 10 million or more paying customers, according to a press release.
The largest radio platform in India as of late, Kuku FM has more than 1.5 million paid subscribers. Users can create, develop, and upload content on the platform thanks to the company’s exclusive content production tools.
According to a release, the website has increased the number of languages it supports by adding material in Hindi, Marathi, Bengali, Tamil, Telugu, Kannada, and Malayalam.