In a rare format of startups, KukuFM, a podcasting platform, has secured an undisclosed amount of funding from Shunwei Capital, India Quotient and 3one4 Capital, reported Mint.
The startup Kuku FM stated, “Audio content was always mostly limited to and synonymous with music. Consumers are now looking for more different, inclusive and enhancing listening experiences.”
“All those famous niche poetry, investigative story narrations, mythological storytelling, comedy shows, game shows, all of it is now no more just video-only content. That’s where podcasts are changing the game of audio content,” it added.
KukuFM was incorporated by Lal Chand Bisu, Vinod Meena and Vikas Goyal in 2018. The podcast space provides production, distribution and marketing support for creators, and also claims to have over a million listeners spending over 50 minutes a day on the platform.
As per its LinkedIn profile, Kuku’s most of the content is in Hindi, underlining the growth of local language social platforms and content firms in the country.
“With the rise in internet penetration we saw a huge demand for regional language content. Along with that, there were strong signs of audio content demand but the experience was fragmented,” said Gagan Goyal, partner at India Quotient.
“The team at Kuku FM is building an audio platform from the ground up and users are showing great engagement. We strongly believe the audio market in India will be huge in the coming years and with Kuku FM we are strongly positioned to capture it,” Goyal added.