Kuku Technologies, a digital entertainment startup headquartered in Mumbai, has filed for an IPO, while TrueFan AI has secured $10 million in fresh funding.
Kuku files for IPO
Kuku Technologies, a digital entertainment startup headquartered in Mumbai, has filed for an initial public offering (IPO), according to a Mint report.
The company, which operates vernacular audio platform Kuku FM and short-drama app Kuku TV, is said to be looking to raise Rs 2500-3500 crore, added the report.
Established in 2018, Kuku has so far garnered over $150 million from a gamut of investors such as Fundamentum Partnership, Krafton, Vertex Ventures, Granite Asia, IFC, Paramark Ventures, India Quotient and 3one4 Capital.
The company’s public market debut is expected to be a mix of fresh issue of shares and an offer for sale.
AI startup TrueFan secures funding
TrueFan AI, a Gurugram-based video generation startup, has secured as much as $10 million in fresh funding, led by Baring Private Equity Partners India and Z3Partners, per media reports.
The round also saw participation from IAN Alpha Fund and 3Lines Venture Capital.
The startup, set up in 2020, uses generative AI to make hyper-personalised videos from a single recording. It claims to be working with more than 100 enterprise clients such as HDFC Bank, Bajaj Finance, Zomato, Cipla and BharatPe.
TrueFan AI is currently looking to tap new markets in Southeast Asia, the Middle East, and the US.
