Last Updated:June 19, 2025, 14:14 IST
Kuku FM, a Bengaluru audio platform, is in talks to raise $70M led by Granite Asia, valuing it at $500M. The company faces scrutiny over user acquisition and monetisation.
The deal is expected to value the company at about $500 million, nearly three times its valuation of $177 million in September 2023.
Bengaluru-based audio content platform Kuku FM is in advanced talks to raise about $70 million (about Rs 600 crore) in a fresh funding round led by Singapore-based Granite Asia, according to a Moneycontrol report.
The deal, which comes at a time when the company is under scrutiny over its user acquisition and monetisation strategies, is expected to value the company at about $500 million, nearly three times its valuation of $177 million in September 2023.
According to CNBC-TV18, media reports and consumer rights advocates have flagged Kuku FM, Seekho, and Stage for using “dark patterns” — design techniques in app interfaces that may lead users into unintended purchases or subscriptions.
Granite Asia (formerly Granite Global Ventures) is likely to contribute $50 million, while the remaining $20 million is expected from existing investors, including Fundamentum Partnership and IFC. The round is structured as a primary capital infusion, aimed at expanding Kuku FM’s regional content catalogue, enhancing creator partnerships, and improving platform engagement and retention.
According to CNBC-TV18, complaints include mislabelled Rs 1 or Rs 2 trial offers that automatically convert into paid subscriptions ranging from Rs 149 to Rs 699, often without clear opt-in consent. The Ministry of Consumer Affairs in December 2023 released guidelines targeting such manipulative designs. Users have flagged that Kuku FM used tactics like “confirm shaming”, auto-renewal defaults, and ambiguous cancellation processes – basically stating that the platform operates in user practices ethically grey areas.
A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al…Read More
A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al… Read More
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