Kuku FM looks to raise up to $80 mn

Audio streaming platform Kuku FM has signed a term sheet to raise about $70-80 million in new funding, with South Korean-based video game publisher Krafton leading the round alongside existing investors, three people familiar with the matters said.

- Salman S.H. & Sakshi Sadashiv

“The post-money valuation of the current is expected to be around $500 -550 million...the investors are currently undertaking due diligence and documentation,” said a second person mentioned earlier.

Kuku’s ongoing fundraise has been positioned around rising demand for video-based mini dramas, reflecting investor interest in short-video and serialized micro-drama formats, the person added.