Pocket FM, a Bengaluru-based over-the-top (OTT) platform, announced it has raised $65 million in a funding round led by Goodwater Capital, Naver, and an existing investor – Tanglin Venture Partners.
The company plans to use the fresh funds to strengthen its leadership position, expand into new languages, invest in AI capabilities and build a large audio creator community.
“We are elated to announce our Series C funding and would like to thank Goodwater Capital, Naver, and Tanglin Venture Partners for their trust in us. This is a validation of our market leadership and trust in our execution capabilities. Audio consumption has seen exponential growth over the last year, and we are on a mission to build the largest audio OTT platform,” Rohan Nayak, cofounder and CEO, Pocket FM said.
Earlier, Pocket FM had raised $28.6 million, from existing marquee investors like Lightspeed, Tencent, Times group, and Tanglin Venture Partners.
“ Pocket FM empowers audio creators around the world in crafting the best long-form audio content, from writing to voice acting, while also providing a channel for consumers to find and discover that content…”, Scott Shiao, director, Investment at Goodwater Capital said.
HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.