Kuku, an Indian storytelling platform backed by Google, has raised $85 million in funding to expand its audio and video content offerings, significantly increasing its valuation to $500 million amid competitive market dynamics.

Target Information

Kuku, a prominent storytelling platform based in India and backed by Google, has successfully secured $85 million in new funding. The company plans to leverage this investment to enhance its audio and video content offerings in an increasingly competitive mobile-first content landscape. Kuku has doubled its valuation to approximately $500 million after this Series C funding round, which was led by Granite Asia (formerly GGV Capital). Participation from esteemed investors such as Vertex Growth Fund, Krafton, IFC, Paramark, Tribe Capital India, and Bitkraft further validates Kuku's potential in the market.

Founded in 2018, Kuku initially gained attention through its audiobook service, Kuku FM. The company has since diversified its offerings, introducing Kuku TV for long-form content and Kuku FM for audio-first shows. The platform accommodates content in over eight Indian languages and presently boasts over 10 million paid subscribers. Kuku has reported remarkable growth, with a 2x increase in average revenue per user and a tenfold growth since its last funding round.

Industry Overview

India's media and entertainment sector is undergoing rapid transformations, marked by an astounding increase in digital content consumption. With more than a billion internet users and around 700 million smartphone users, the Indian market provides an ideal backdrop for digital content proliferation. Ultralow data costs and a user-