Venture Intelligence (TSJ Media Pvt. Ltd.)
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Audio OTT startup Pocket FM raises $16-M from Silicon Valley Bank
Gurugram-based audio OTT startup Pocket FM has secured USD 16 million from US-based Silicon Valley Bank, whose banking operations were taken over by First Citizens Bank in March. The startup plans to use the funds to strengthen its audio series library, expand the creator community, and accelerate revenue. Pocket FM last raised USD 65 million in a Series C round in March 2022. With this new debt round, the total capital infusion has increased to USD 109.5 million. Founded in 2018 by Rohan Nayak, Nishanth Srinivas, and Prateek Dixit, Pocket FM is an online audio entertainment platform, with a focus on audio series - a serialized fictional audio storytelling. The platform claims to have an 80 million listener community globally, and is available in English and Indian languages such as Hindi, Telugu, Tamil, and Bengali.
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Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.