Kuku FM‘s operating company, Mebigo Labs Pvt Ltd, said today that it has raised $21.8 million in a series B financing led by Fundamentum Partnership, Nandan Nilekani’s company.

Partial list of investment participants in the round

1.Paramark

2.Krafton

3. 3one4 Capital

4.Vertex

5.Verlinvest

6.FounderBank Capital

With the funding, Kuku FM hopes to increase the number of languages available to listeners, develop its environment for content creation, and grow its catalogue.

By the end of 2023, the company hopes to have a base of 10 million or more paying  customers, according to a press release.

The largest radio platform in India as of late, Kuku FM has more than 1.5 million paid subscribers. Users can create, develop, and upload content on the platform thanks to the company’s exclusive content production tools.

According to a release, the website has increased the number of languages it supports by adding material in Hindi, Marathi, Bengali, Tamil, Telugu, Kannada, and Malayalam.

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Here is the particial list of participants

Eniac Ventures

AngelList Co-founder Naval Ravikant

Deutsche Bank Global CIO Dilip Khandelwal

Head of GitHub India Maneesh Sharma

Greenhouse Software CTO Mike Boufford and

Kaggle Founder Anthony Goldbloom amongst others.

Where Funds will be used?

The additional infusion of funds will be utilised to strengthen and grow its specialised technological staff and advance product development.

Here are the excerpts from their official blog about the new funding round.

TrueFoundry was born out of the idea that no business – big or small – should miss out on the opportunities of machine learning. With our automated platform, data scientists and engineers are able to deploy machine learning models at the speed and maturity of big tech, cutting their production timelines from several weeks to a few hours.

Data is the new oil and we want to enable companies to use machine learning faster and generate greater business value. We aim to automate repetitive tasks in the ML pipeline such as infrastructure and deployments so data scientists and ML engineers can focus on higher-value, more creative tasks.

This enables businesses to continuously upgrade existing models and release new ones to gain a competitive edge.

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ParkMate is an intelligent parking solution that helps drivers and businesses save time and money. You’ll never have to waste time again looking for or even going to a parking lot again thanks to the ParkMate app.

ParkMate Funding

ParkMate has acquired an undisclosed funding that was made possible by EvolveX, the global accelerator programme run by start-up investment platform We Founder Circle.

The company intends to use the funds to strengthen the technology, hire people, and grow the team.

Founding Team

Dhananjaya Bharadwaj, Co-founder and CEO, ParkMate.

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StartupXseed Ventures, an early-stage B2B venture capital firm, has officially confirmed the final close of its fund II with a contribution of 243 crore.

The venture capital firm invests in enterprise solutions with a clear awareness of market barriers and the potential to sell across international markets.

Where do they invest?

StartupXseed is a sector agnostic fund with investments in following domains
1.SaaS
2.Space Tech
3.Cyber Security.
4.Semi Conductor.
5.AI/ML
6.Drones.

The company expects to achieve a greater return on investment by assisting start-ups in progressing into product development, growth strategies, global expansion, and reinforcing organisational capabilities at an early stage by investing early.

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