Kuku FM closes $85 million funding round led by Granite Asia; valuation hits $550 million post investment

Audio and video content platform Kuku FM on Thursday said it has closed a funding round of $85 million led by Granite Asia (previously known as GGV Capital), with existing investors, including Vertex Growth Fund, Krafton, IFC, Paramark, Tribe Capital India, and Bitkraft participating. The latest round values the startup at $550 million post-money, according to sources in the know. Of the $85 million raised, $50 million is primary capital, and the rest is secondary, they added.