India's Kuku snags $85M as mobile content wars intensify | TechCrunch
Key Takeaways
- Kuku, an Indian storytelling platform, raised $85 million in Series C funding led by Granite Asia.
- The funding round values Kuku at approximately $500 million, more than double its prior valuation.
- The capital will be used to scale Kuku's audio and video content offerings in the competitive Indian market.
- Google, an early backer, fully exited its stake in the company through secondary transactions during this round.
- Kuku has surpassed 10 million paid subscribers and sees strong engagement, with 80% of users from non-metropolitan cities.
Indian storytelling platform Kuku announced it has raised $85 million in fresh Series C funding, led by Granite Asia, which now values the company at roughly $500 million, more than double its previous valuation. The capital injection is intended to scale Kuku's audio and video content offerings amidst fierce competition in the South Asian digital market. The funding round included participation from several investors, but notably saw Google fully exit its small stake via secondary transactions. Kuku operates Kuku TV and Kuku FM, offering content in over eight Indian languages to more than 10 million paid subscribers, with 80% of users coming from non-metropolitan cities. This growth is underpinned by India's booming digital consumption, driven by cheap data and the UPI payment system, making local language content highly valuable.
