We're thrilled to share that KukuFM, India’s leading platform for audio infotainment closed $21.8 million in Series B, led by Fundamentum Partnership with participation from Krafton, 3one4 Capital, Vertex, Verlinvest, and FounderBank Capital.
KukuFM has defied a tired narrative and proven that Indian consumers do pay for quality digital products and experiences. It has scaled into the largest regional language subscription platform by simplifying the process of creating and publishing audio content.
Having reimagined the audio experience for Indians consuming content in their regional languages from the ground up, it now has 1.7M+ active paying subscribers and plans to exceed 5M soon. This is already amongst the largest consumer subscription products in the country across categories.
KukuFM has leveraged the audio infotainment whitespace, and targeted users with varied interests and purchasing powers across regions. The platform has simplified audio content creation for 30K+ creators and artists with their proprietary, easy-to-use recording, and transcribing tools.
Their exclusive content runs into 1,50,000 hours in formats that include audiobooks, book summaries, educational courses, podcasts, and stories. The content also covers 30+ genres like news, mythology, learning, self-help, personal finance, entertainment, and spirituality.
KukuFM also adds 1000+ hours of exclusive content on the platform every month in 12+ regional languages that include Tamil, Gujarati, Bangla, Hindi, Marathi, Kannada, Malayalam, and Telugu. Listeners on the platform clock in an average daily-listening time of over 80 minutes per user.
KukuFM plans to deploy these newly raised funds to build a strong regional content-creation ecosystem, expand its existing catalogue, and reach out to listeners with more language choices.
At 3one4, we are excited to continue our work with founders Lal Chand Bisu, Vinod Kumar Meena, and Vikas Goyal as they redefine the audio universe for regional languages and make millions of lives better off-screen.
At 3one4 Capital, the team has intentionally built a long-term commitment to responsible investing and to support the evolution of an ecosystem conducive to RI. This active commitment has helped the firm secure the signatory status to the UN PRI.
3one4 Capital has been ranked by Preqin, a global reference database for asset management, as India’s top performer for two of its funds, in the recent Alternative Assets report. The seed and early-stage funds managed by the firm have been recognized for their performance amongst the India-focused venture capital funds in this Asia Pacific-focused report published in 2021. With industry-leading Net IRRs, 3one4 Capital’s Rising I & Fund II are the top two amongst the best performing India-focused VC funds between the vintage years, 2010- 2018.