Kuku FM announced that it had raised $19.5 million in a funding round led by gaming giant Krafton. The funding round was also participated by existing investors like 3one4 Capital, Vertex Ventures, and India Quotient. The company said it would utilise the fresh funds to broaden its language offerings and consolidate its content creation strategy.

Kuku FM provides content creation tools to its users, allowing them to create, develop and post content. It offers content in five languages which are Hindi, Marathi, Bengali, Tamil, and Gujarati. “Kuku FM is originating a new category for audio content by bringing premium, unique, and digital audio experience to our users. We have noticed an outstanding use of audio content amongst users in our country,” Lal Chand Bisu, CEO and co-founder of Kuku FM, said.

“We are happy to partner with Kuku FM and help them in their journey of building a strong creator and listener ecosystem, which will grow rapidly, creating many unique local IPs. Here at Krafton, we believe that Indian IPs and local Indian languages content growth will open the next big monetization opportunity not just in India but even worldwide,” Sean Hyunil Sohn, head of India division at Krafton said.