Kuku FM to raise up to $80 mn led by Krafton at a potential $550 mn valuation
Bengaluru/Delhi: Sound Flow Platform Kuku FM, South Korean-based video game publisher Krafton, directed the tour alongside the current investors, with three familiar with the issue of the new financing of about 70-80 million dollars in the new financing signed a period page.
A second person mentioned earlier, “the current valuation of the current money is expected to be around 500-550 million dollars… Investors are currently doing situation detection and documentation,” he said.
KUKU FM’s ongoing donation collection has been positioned around the increasing demand for code-based mini dramas and reflects the investor’s interest in short video and served micro-drama formats.
KUKU FM Founder Partner Lal Chand Bisu’ya e-mails and the company remained unanswered until the press time. “As a part of Krafton’s policy, we do not comment on issues about our portfolio companies, Kra Krafton spokesman said.
One of the people quoted above said that existing investors, such as Mint Nilekani’s fundamentum partnership, could participate in the tour of India.
In September 2023, Kuku FM collected $ 25 million in the C series tour, and Vertex Ventures also participated in the Fundamentum Partnership and International Finance Corporation. At that time, the company was about $ 185 million from money.
Kuku FM, together with Fundamentum and Krafton in previous tours, has collected approximately 70 million dollars from a mixture of domestic and global investors, including Google, Paramark, 3one4 Capital, India Capites, India, Foundbank Capital and Valtex Ventures.
Krafton, who previously managed the 19.5 million dollar B series of KUKU FM in 2022, expands to the consumer content in India beyond the games and is among the important supporters of KUKU FM. The founders of KUKU FM will hold approximately 20% of the company collectively according to the latest closure table. Fundamentum Partnership is the largest institutional shareholder with approximately 12.8% and follows Vertex Ventures at a rate of about 11.1%. According to Tracxn data, the private market intelligence platform, Krafton currently has about 10.2% shares in Kuku FM.
KUKU FM has gathered 100-150 million dollars to finance its global expansion of its rival Mobile FM de Goldman Sachs. Mint Reported this week.
Founded in 2018 by Lal Chand Bisu, Vinod Meena and Vikas Goyal, Kuku FM began as a sound platform and offers users to produce and publish original shows in multiple Indian language. He claimed that he worked with more than 30,000 creators and more than 2.5 million active paid subscribers on his latest platform.
Market expansion
While the platform initially focused on self -assistance, personal finance, romanticism and spirituality, a platform with a creative -led platform by making money through subscriptions and making money through subscriptions.
The platform also operates Kuku TV, which is a video-oriented application with Kuku FM’s audio-led service, which contains short form and mini-drama programming, and adds new daily titles. Mint Previously, the platform has added more than 200 new demonstrations in a month, more than one micro-dramas, each 50 million views passed.
The market attracted a crowded rival Arduvaz, including venture -capital -backed players such as Flick TV (financed by Stellaris Venture Partners), Dashverse (financed by Peak XV) and Zee Entertainment’s bullet. While settled media companies and social platforms, balaji telefilms’ Kutingg, Sharechat’s Moj and Quicktv, scales efforts through their platforms. Mint Reported last week.
Analysts are currently about 50 million dollars per month of India’s short-shaped video and micro-drama ecosystem, or about 600 million dollars per year, more than 300 million users and an 8-12 billion dollars of expanding the potential to a market of $ 8-12 billion by 2030.
