Kuku FM’s FY24 Revenue Jumps 114% To INR 104 Cr

Kuku FM’s FY24 Revenue Jumps 114% To INR 104 Cr

SUMMARY

The startup reported an operating revenue of INR 88 Cr, a 114% higher than INR 41.1 Cr it had reported a year back

In FY24, the startup’s total loss stood at INR 96 Cr, 18% lower than INR 116.5 Cr it incurred in the last fiscal year

The IFC-backed startup saw its expenditure increase by 21% to INR 200 Cr in FY24 as against INR 165.4 Cr it reported in the last fiscal year

Mumbai-based vernacular audio platform Kuku FM saw its revenue increase by over 100% in the financial year ending March 31, 2024 (FY24). The startup reported an operating revenue of INR 88 Cr, a 114% higher than INR 41.1 Cr it had reported a year back. 

The startup generates revenue by charging users for the audio content on the platform. Kuku FM claims to have over 25 Mn paid users. Including other income, its total revenue stood at INR 104.1 Cr in FY24, almost a 2X jump from INR 48.8 Cr it reported in the previous fiscal year. 

Founded in 2018 by Lal Chand Bisu, Vikas Goyal, and Vinod Kumar Meena, Kuku FM offers audio content across genres such as audiobooks, personal finance, self-help, education, entertainment, news, mythology, spirituality and inspiration. It currently claims to host more than 150K hours of content in various formats on its platform.

While the startup’s income increased, it managed to bring down its losses. In FY24, the startup’s total loss stood at INR 96 Cr, 18% lower than INR 116.5 Cr it incurred in the last fiscal year. 

Where Did Kuku FM Spend?

The IFC-backed startup saw its expenditure increase by 21% to INR 200 Cr in FY24 as against INR 165.4 Cr it reported in the last fiscal year.

Advertising Expenditure: Being a content creating platform, the startup’s biggest expenditure was its advertising and marketing costs. In FY24 the startup reported a marketing expense of INR 102 Cr, a 7% increase from INR 95 Cr in the previous fiscal year.

Employe Benefit Expense: In FY24, the startup’s employee cost shot up to INR 48 Cr, a 37% higher from INR 34.8 Cr in the previous fiscal year.

Audio Content Creation Expenses: The startup’s audio content creation expenses rose by 41% to INR 16 Cr, from INR 11.2 Cr on the back of increase in audio content on the platform. 

The startup’s content is available in seven Indian languages, including Hindi, Marathi, Bengali, Tamil, Telugu, Kannada and Malayalam.

Last year, the startup bagged $25 Mn in its Series C funding round co led by the Fundamentum Partnership and International Finance Corporation (IFC), along with participation from Vertex Ventures. 

This round came almost a year after it bagged $21.9 Mn in its Series B1 funding led by the Fundamentum Partnership. The startup also counts Google, Paramark, KRAFTON, Inc., 3one4 Capital, V Cube Ventures, India Quotient and FounderBank Capital, among its investors.

In India, Kuku FM closely competes against the likes of Pocket FM. 

You have reached your limit of free stories
This Diwali, Get Up To 74% Off On Inc42 Plus

Become A Startup Insider With Inc42 Plus

Inc42 Plus Diwali Offer Ends In
countdownmail.com
2 YEAR PLAN
₹19999
₹6499
₹270/Month
UNLOCK 68% OFF
Cancel Anytime
1 YEAR PLAN
₹9999
₹3499
₹291/Month
UNLOCK 65% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

Kuku FM’s FY24 Revenue Jumps 114% To INR 104 Cr-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

Kuku FM’s FY24 Revenue Jumps 114% To INR 104 Cr-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

Kuku FM’s FY24 Revenue Jumps 114% To INR 104 Cr-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

Kuku FM’s FY24 Revenue Jumps 114% To INR 104 Cr-Inc42 Media
Kuku FM’s FY24 Revenue Jumps 114% To INR 104 Cr-Inc42 Media
You’re in Good company