Kuku FM raises $21.8 mn series B1 funding from Fundamentum Partnership

Audio streaming start-up Kuku FM has raised $21.8 million in series B1 funding led by The Fundamentum Partnership. Along with new investors Fundamentum and Paramark, existing investors KRAFTON, Inc, 3one4 Capital, Vertex, Verlinvest and FounderBank Capital also participated in the round.

Funds will be used to expand Kuku FM’s catalogue, strengthen its content creation ecosystem and offer more language choices to listeners, focusing on the ‘Bharat’ audience. The start-up aims to achieve a base of more than 10 million paid subscribers by the end of 2023, said Kuku FM in a statement.

“The India-digitization story has opened up opportunities across