Kuku FM raised $25 million in its latest funding round on Wednesday in a move to expand its audiobook offerings in the South Asian market. The startup plans to use the fresh funds to strengthen its content ecosystem, increase the depth of content across Indian languages, and focus on technology. 

The Series C funding round was led by billionaire technologist Nandan Nilekani’s Fundamentum Partnership. The round also saw participation from International Finance Corporation, part of the World Bank and Vertex Ventures. 

The Google-backed audio content platform had earlier raised $21.9 million from Fundamentum Partnership in September 2022. Kuku FM has raised over $60 million from investors like Paramark, KRAFTON, 3one4 Capital, V Cube Ventures, India Quotient, and FounderBank Capital.

The five-year-old startup operates an audio platform offering over 150,000 hours of content in 6 Indian languages and English across genres including personal finance, romance, religion and self-help to more than 2.5 million paid subscribers. 

CEO and co-founder of Kuku FM, Lal Chand Bisu, said that the startup has more than doubled its revenue over the past year and aims to become profitable by the end of next year.