Kuku FM raises $25 million in funding from Fundamentum, others
Kuku FM on Wednesday said it has raised $25 million in a Series C funding round co-led by the Nandan Nilekani-founded Fundamentum Partnership and International Finance Corporation.
Temasek-backed Vertex Ventures, which closed its fifth fund at $541 million last week, also participated in the funding, as per a statement.
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Offering CollegeCourseWebsiteIndian School of BusinessISB Digital Marketing and AnalyticsVisitIndian School of BusinessISB Digital TransformationVisitIndian School of BusinessISB Professional Certificate in Product ManagementVisitNorthwestern UniversityKellogg Post Graduate Certificate in Product ManagementVisitThe Mumbai-based startup will deploy the funds to increase the depth of its content across Indian languages and focus on technology, as per a statement.
“Kuku FM has created a niche category that caters to the unique and rapidly evolving demands of the new digital natives of India. Moreover, cofounder Lal Chand Bisu and team have demonstrated a great understanding in terms of creating a business model with a strong focus on unit economics and robust fundamentals,” said Prateek Jain, Principal, Fundamentum Partnership.
The latest investment is Fundamentum’s second in the vernacular audio content platform. Kuku FM had last raised $21.9 million in Series B1 funding round in September 2022, also led by Fundamentum.
Other investors in the audio platform include Google, Paramark, Krafton, 3one4 Capital, V Cube Ventures, India Quotient and FounderBank Capital.
“Our partnership with Kuku FM, a leading vernacular audio content platform, aligns with our shared gender and inclusion priorities and aims to empower underrepresented voices, especially those
