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Home Gadgets Audio streaming platform Pocket FM raises $65 million in fresh funding

Audio streaming platform Pocket FM raises $65 million in fresh funding


New Delhi: Audio streaming platform Pocket FM mentioned on Thursday that it has raised $65 million in a funding spherical led by Goodwater Capital, Naver, and an present investor – Tanglin Venture Partners.

The corporate plans to make use of the contemporary funds to strengthen its management place, increase into new languages, spend money on AI capabilities and construct a big audio creator group.

“We’re elated to announce our Sequence C funding and wish to thank Goodwater Capital, Naver, and Tanglin Enterprise Companions for his or her belief in us. It is a validation of our market management and belief in our execution capabilities. Audio consumption has seen exponential development during the last yr, and we’re on a mission to construct the most important audio OTT platform,” Rohan Nayak, cofounder and CEO, Pocket FM mentioned.

Pocket FM had beforehand raised $28.6 million, from present marquee traders like Lightspeed, Tencent, Times group, and Tanglin Enterprise Companions. ETtech is owned by Occasions Web, part of the Occasions group.

The platform presents greater than 100,000 hours of enriching long-format content material, audio collection, tales, novels, podcasts and information reveals in 8 languages (Hindi, Tamil, Telugu, Malayalam, Bangla, English, Kannada, and Marathi). It claims to have over 50 million customers and three billion+ month-to-month listening minutes.

“ Pocket FM empowers audio creators world wide in crafting one of the best long-form audio content material, from writing to voice appearing, whereas additionally offering a channel for shoppers to search out and uncover that content material…”, Scott Shiao, director, Funding at Goodwater Capital mentioned.

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