Kuku FM, India’s leading audio content platform, has raised $85 million in a new funding round led by Granite Asia, a Singapore-based growth investment firm. The round also saw participation from existing investors such as Google, Vertex Ventures, and Krafton, pushing the startup’s valuation to $550 million.
This funding marks a major milestone for India’s homegrown audio-streaming ecosystem. Kuku FM now stands as one of the country’s fastest-growing vernacular audio platforms, challenging global giants like Spotify and Audible by building a library deeply rooted in Indian languages, storytelling traditions, and cultural relevance.
A Big Leap in the Audio Content Industry
Kuku FM began in 2018, founded by Lal Chand Bisu, Vikas Goyal, and Vinod Kumar Meena. The team built the platform to serve an underserved market — millions of Indians who love stories, motivation, and self-improvement but prefer consuming content in Hindi, Tamil, Bengali, and Marathi rather than English.
Instead of competing directly with music-streaming platforms, Kuku FM positioned itself as a “Netflix for audio shows.” The startup offers a wide range of original programs, including audiobooks, courses, biographies, and short-form storytelling.
Today, the platform serves over 10 million monthly active users and hosts content from more than 30,000 creators across 10 Indian languages.
This latest funding comes at a crucial time. The company plans to accelerate growth by expanding its user base, enhancing creator tools, and investing heavily in AI-driven personalization.
Granite Asia’s Bet on India’s Digital Audio Market
Granite Asia led the round with a bold conviction — that India’s digital audio market is only beginning to unfold.
In a statement, Granite Asia’s Managing Partner, Ken Tan, said:
“Kuku FM captures the next wave of digital consumption in India. The platform democratizes storytelling and learning for millions who prefer content in their own language. We see strong fundamentals and scalable potential here.”
The fund, which primarily backs late-stage startups across Southeast Asia, saw Kuku FM’s deep penetration in Tier-2 and Tier-3 cities as a sign of India’s evolving content landscape.
Granite’s participation also brings a network of regional investors and strategic partners who can support Kuku FM’s expansion into other Asian markets, such as Indonesia, Thailand, and Vietnam — countries with similar linguistic diversity and appetite for local language content.
The Road to $550 Million Valuation
The new round values Kuku FM at $550 million, nearly doubling its previous valuation of $300 million in 2023. This rapid growth reflects two strong trends: India’s increasing non-music audio consumption and the platform’s focus on monetization through subscriptions.
Kuku FM earns most of its revenue from a freemium model. Listeners can access a few shows for free, while premium users pay ₹399 per year for ad-free access and exclusive content. The model works well because Indian consumers increasingly view audio as a low-effort learning tool — they can listen while commuting, exercising, or doing chores.
CEO Lal Chand Bisu emphasized that the valuation reflects both revenue performance and strategic vision.
“We built a product that aligns with India’s cultural pulse. People love hearing stories and learning through voice, not just reading or watching. We translate that into scalable digital experiences,” he said.
The startup reported a 3x growth in paying subscribers over the past 18 months and aims to cross 10 million premium users by 2027.
Technology and AI: The Next Growth Engine
Kuku FM now plans to channel the fresh funds into AI-powered personalization and content discovery.
The platform already uses algorithms to recommend shows based on listening history, but the next phase goes deeper — natural-language understanding, voice synthesis, and multilingual dubbing.
The company’s CTO, Vinod Kumar Meena, revealed plans for an AI studio that helps creators generate scripts, edit audio, and translate content automatically into multiple languages.
“Creators spend hours recording and editing. AI can handle translation, background scoring, and audio optimization. This empowers more storytellers to publish faster,” he explained.
The startup also wants to deploy voice cloning technology for high-demand narrators, allowing them to produce multiple shows simultaneously without recording every line.
Kuku FM’s engineering team, based in Bengaluru, already collaborates with Google Cloud’s AI division to build scalable audio tools. With the new investment, they intend to expand the team and double down on personalized recommendation models that go beyond traditional playlists.
Content Diversity: The Core of Kuku FM’s Strategy
Kuku FM’s success rests on its commitment to linguistic and cultural inclusivity. The company doesn’t just translate English shows into Indian languages; it produces original regional content that reflects local culture.
For example, its Tamil spiritual series “Azhagiya Thiruvizha” and Hindi biography “Ratan Tata: Ek Kahani” became massive hits, drawing millions of listens. The platform also features motivational stories, business podcasts, romantic fiction, and true-crime series — genres that cater to both youth and adults.
Creators receive between 40% and 50% of subscription revenue, which motivates high-quality production. Kuku FM also runs creator workshops to teach storytelling, scriptwriting, and monetization strategies.
“We don’t just host creators; we build their careers,” said co-founder Vikas Goyal. “Our model rewards originality and emotional connection.”
The startup now has content partnerships with Penguin Random House, HarperCollins, and Pratilipi, ensuring a steady inflow of audiobooks and exclusive adaptations.
A Market Ready for Disruption
India’s audio entertainment market stands at an inflection point. According to a 2025 FICCI-EY report, the non-music audio segment — which includes audiobooks, podcasts, and education audio — will surpass $1.2 billion by 2026, growing at 28% annually.
While global players like Audible and Spotify dominate premium English content, Kuku FM has carved a niche by offering affordable, culturally aligned, multilingual programming.
The average Indian listener spends 32 minutes daily on Kuku FM, compared to 18 minutes on global podcast apps, according to data from Similarweb. This high engagement stems from emotional storytelling, not just entertainment.
International Expansion on the Horizon
With Granite Asia’s support, Kuku FM will soon enter Indonesia, Malaysia, and the Philippines — markets where local language content remains underdeveloped.
The startup has already begun hiring regional content curators and language localization experts. In Indonesia, it plans to pilot Bahasa-based motivational series inspired by its Indian catalog.
“We understand how voice connects across emotions and cultures. That’s our advantage in Asia,” said CEO Bisu.
Kuku FM also aims to collaborate with telcos and device manufacturers to pre-install its app on smartphones, much like Spotify’s early strategy in Europe.
Challenges Ahead
Despite impressive growth, Kuku FM faces challenges. The creator economy remains fragmented, and piracy still threatens revenue. Competing with YouTube and Spotify for user attention also demands strong marketing and continuous innovation.
Moreover, subscription fatigue among Indian consumers could slow paid user growth. The startup must keep balancing free content with premium value to sustain long-term profitability.
Still, the founders express confidence. They believe voice storytelling has a universal appeal that will keep demand strong across demographics.
Conclusion: A Voice That Speaks to India’s Future
Kuku FM’s $85 million funding round represents more than financial success; it symbolizes India’s creative digital renaissance. By betting on language, emotion, and technology, the company has redefined how Indians consume stories and knowledge.
The new investment gives Kuku FM not just capital, but confidence — confidence to innovate, to expand, and to speak louder in the global audio arena.
As India moves toward a more inclusive digital economy, startups like Kuku FM prove that storytelling still reigns supreme — and in this era of screens and scrolls, a powerful voice still matters most.
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