"Kuku, an Indian storytelling platform backed by Google, has raised $85 million in fresh funding as it aims to scale its audio and video content offerings amid intensifying competition in the South Asian nation's mobile-first content market. The Series C round, led by Granite Asia (formerly GGV Capital), values Kuku at more than double its previous valuation to around $500 million, Kuku founder and CEO Lal Chand Bisu confirmed to TechCrunch."
"India, home to over a billion internet subscribers and around 700 million smartphone users, is experiencing massive growth in digital content consumption, driven by ultra-low data costs and seamless micropayments. Prime Minister Narendra Modi recently remarked that 1GB of data in India costs less than a cup of tea. The country's government-backed Unified Payments Interface (UPI) - a system that enables instant digital payments between bank accounts - has also made digital transactions easy and widely accessible."
Kuku raised $85 million in a Series C round led by Granite Asia, valuing the company around $500 million. The round included participation from Vertex Growth Fund, Krafton, IFC, Paramark, Tribe Capital India, and Bitkraft, and featured secondary transactions with early investors partially exiting, including Google selling its under-2% stake. Kuku plans to scale audio and video content amid intensifying competition in India's mobile-first content market. Ultra-low data costs and UPI-driven micropayments are fueling digital content consumption and giving local platforms an edge with regional-language offerings. Digital media now exceeds television and is projected to grow through 2027.
Read at TechCrunch
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