TLDR: Indian storytelling platform Kuku (Mebigo Labs Pvt. Ltd.) has successfully raised $85 million in a Series C funding round led by Granite Asia. The investment, which more than doubles the company’s valuation to approximately $500 million, will be used to enhance its AI and data infrastructure, expand content offerings across Kuku FM and Kuku TV, and support international growth.
NEW DELHI – Kuku, the vernacular streaming platform operated by Mebigo Labs Pvt. Ltd., announced on Thursday, October 16, 2025, the successful closure of an $85 million Series C funding round. The round was spearheaded by multi-asset investment platform Granite Asia, formerly known as GGV Capital. Significant participation also came from Vertex Growth Fund, Krafton, IFC, Paramark Ventures, Tribe Capital India, and Bitkraft. This latest infusion of capital elevates Kuku’s post-money valuation to approximately $500 million, a substantial increase from its $185 million valuation during its previous funding round in September 2023.
According to Lal Chand Bisu, Founder and CEO of Kuku, the newly secured funds will be strategically deployed to bolster the company’s artificial intelligence (AI) and data infrastructure, facilitate hiring across technology and content teams, deepen partnerships with creators, and drive expansion both within India and into overseas markets.
Kuku operates two primary streaming platforms: Kuku FM, an audio-first service offering audiobooks, podcasts, and original audio series in multiple Indian languages, and Kuku TV, which focuses on bite-sized, vertical microdrama episodes.
Bisu highlighted the significant gap in premium content, particularly in regional Indian languages, as a key area for investment. The company plans to innovate on the content side, expanding beyond its current offerings in Hindi, Tamil, Telugu, Malayalam, and Kannada to include more languages. A portion of the funds will also be allocated to bringing celebrated actors and television personalities into their shows, aiming to produce content that surpasses 100 million views.
Kuku currently boasts over 10 million paid subscribers and has recorded more than 229 million app downloads, with Kuku FM being a significant driver of consumer spending. The platform estimates that India’s short-form audio and video market could reach approximately $2 billion annually within the next five years, drawing parallels with trends observed in China and the United States.
Jenny Lee, Senior Managing Partner at Granite Asia, expressed enthusiasm for the investment, stating, “Kuku represents a new wave of Indian consumer platforms built on deep local insight and mobile-first innovation. We’re excited to catalyze the team’s vision to become India’s leading storytelling platform, drawing on our experience partnering with consumer tech leaders across Asia to turn local creativity into global platforms.”
In a move to streamline content creation and enhance efficiency, Kuku has established an in-house GenAI studio. This studio leverages AI tools for various functions, including multilingual translation, scripting, ad generation, and sentiment analysis, which has reportedly shortened the time from concept to final production and reduced costs.
Financially, Kuku FM reported an operating revenue of ₹88 crore for FY24, a notable increase from ₹41.1 crore in FY23. The company also managed to reduce its net loss to ₹96 crore in FY24, down from ₹116.5 crore in the previous fiscal year.
The funding round also included secondary transactions, allowing some early investors, including Google, to partially exit. Google, which previously held a stake of less than 2%, has now fully exited its investment in Kuku.
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Kuku faces competition in the burgeoning digital content market from rivals such as Pocket FM, which is also reportedly seeking to raise significant funding for global expansion. Despite ongoing legal challenges, Kuku remains committed to content integrity and plans to invest in technology to identify unauthorized content usage. The company aims to expand its presence in the Middle East and the U.S. by 2026.
