BGMI developer Krafton invests $19.5 million in Kuku FM
Krafton Inc., the company behind the development of one of the most famous Battle Royale games, Battlegrounds Mobile India (BGMI), has made headlines again with the latest investment.
The South Korean company invested a whopping 19.5 million dollars in Kuku FM, one of the biggest audio platforms in India.
Listeners can head over to Kuku FM to enjoy audiobooks, podcasts, talk shows, and more. The start-up is one of the fastest-growing companies in the country, with an active paid user base of six million.
Founded by three former IITians, Lal Chand Bisu, Vinod Meena, and Vikas Goyal, in 2018, Kuku FM hosts over 150K hours of content. From fiction to non-fiction, inspirational and spiritual stories to poems, Kuku FM has content for listeners of every age.
The latest investment in the start-up company was made by none other than the gaming giant. The BGMI developers invested $19.5 million to help Kuku FM expand and strengthen its range of content.
With regards to their latest investment, Sean Hyunil Sohn, Head of India Division at Krafton Inc., commented:
He also talked about the need for the promotion of Indian IPs:
Lal Chand Bisu, the CEO of Kuku FM, also talked about the company's future goals:
3one4 Capital, Vertex Ventures, India Quotient, Founder Bank Capital, and Verlinvest are some of the investors of Kuku FM. Including the latest investment from the gaming company, the company secured a total of $25 million in four years.
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