Kuku nets $85 mn for AI growth

Vernacular streaming platform Kuku (Mebigo Labs Pvt. Ltd) has raised $85 million more as part of its Series C round led by multi-asset investment platform Granite Asia (formerly GGV Capital), with participation from Vertex Growth Fund, Krafton, IFC, Paramark Ventures, Tribe Capital India and Bitkrafi, it said in a statement on Thursday.

- Salman S.H.

The round values the company at about $500 million post-money, said a person aware of the transaction on the condition of anonymity, as the deal terms are private.

The amount will be used to strengthen Kuku’s artificial intelligence (AI) and data infrastructure, hire across technology and content, deepen creator partnerships and scale up in India and overseas, the statement added.