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.
