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Pocket Fm Raises $22.4 Million In Series B Funding Led By Lightspeed

Dec 06, 2021almost 4 years ago

Amount Raised

$22.4 Million

Round Type

series b

DelhiMedia And Entertainment

Description

New Delhi: Audio streaming platform Pocket FM said on Monday that it has raised $22.4 million in its Series B funding round. Led by Lightspeed, the round also involved new investor Tanglin Venture Partners and existing investors including The Times Group, which owns ETtech.

Company Information

Company

Pocket Fm

Location

Delhi, Delhi, India

About

Founded in 2018, Pocket FM was built with a vision to redefine the entertainment space by pioneering the audio-series category. We pride ourselves in embedding the storytelling elements with a layer of content personalisation in the longer format that resulted in the emergence of “binge listening” as a consumption habit. Today, we have emerged as the preferred digital audio destination for a refined storytelling experience with the audio-series format, riding on our diverse and engaging content. With our unique storytelling approach, we have breathed new life into audio storytelling, reviving it as a mainstream entertainment format and unearthing unique and unheard stories across the world for our listeners. Today, we are building the most extensive repository of audio content on our platform. With over 100 million listeners community, spending an average of over 110 minutes every day, the platform has witnessed over 45 billion minutes of streaming in 2022 Pocket FM is a Series C-stage company that has raised US$109.5 million in multiple rounds and is backed by some marquee investors like Silicon Valley Bank, Lightspeed, Times Internet, Tanglin Venture Partners, Goodwater Capital, Naver and others.

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