Indian Storytelling Platform Kuku Raises $85 Million in Funding

 Staff Reporter | PNN:

Indian storytelling platform Kuku, backed by Google, has raised $85 million in new funding to expand its audio and video content services. CEO Lal Chand Bisu confirmed to TechCrunch that the Series C funding round was led by Granite Asia (formerly known as GGV Capital), bringing Kuku’s valuation to nearly $500 million — double its previous value.

Other participants in the round included Vertex Growth Fund, Krafton, IFC, Paramark, Tribe Capital India, and Bitkraft. Kuku also sold some shares held by early investors, allowing partial exits for several, including Google, which has now fully exited the company.

India, with over 1 billion internet users and nearly 700 million smartphone users, is witnessing explosive growth in digital content consumption. Thanks to low data costs and easy micro-payment systems, the demand for digital media has surged. Prime Minister Narendra Modi recently remarked that in India, “1 GB of data costs less than a cup of tea.”

In 2024, for the first time, digital media overtook television as the largest segment in India’s media and entertainment industry, generating total revenues of ₹802 billion (approximately $9.13 billion). Reports project that digital media will grow at an average annual rate of 11.2% between 2024 and 2027.

Founded in 2018, Kuku initially gained popularity among Indian content consumers through its audiobook service. The company has since expanded to operate two main platforms:

• Kuku TV, which delivers long-form stories in bite-sized episodes.
  
  

• Kuku FM, focused on audio-first shows.
  
  

Kuku now offers content in more than eight Indian languages and has over 10 million paid subscribers, a sharp rise from just 2 million last year.

The platform pays its creators around ₹400 million (approx. $4.5 million) per month and hosts about 10,000 content creators, over half of whom come from small towns and non-metro regions.

Additionally, Kuku has launched a GenAI Studio, which leverages artificial intelligence tools to assist in content creation. The studio supports multilingual translation and on-demand ad production.

With the new funding, Kuku plans to collaborate with celebrities, hire more employees, and invest further in technology and content development. The company is already testing its services in the Middle East and the United States, with plans for a full-scale U.S. expansion in 2026.

Despite its strong growth, Kuku faces stiff competition from Pocket FM, another popular Indian audio and video storytelling platform. Pocket FM has filed several copyright lawsuits against Kuku, but Kuku claims the cases are merely attempts to mislead investors.

Kuku intends to use part of the new funding to strengthen copyright protection technologies and deepen partnerships with creators.