PE Fund Investments
Audio content startup Pocket FM raises $100-M from Lightspeed: report
Bengaluru-based audio-tech platform Pocket FM has raised USD 100 million (nearly INR 829 crore) from Lightspeed Venture Partners.Founded in 2018 by Nishanth KS, Prateek Dixit, and Rohan Nayak, Pocket FM is an audio book platform that offers content across multiple languages and genres such as romance, self-help and motivation. Prior to the current round, the startup had raised more than USD 93 million across funding rounds. It last raised USD 16 million in debt from Silicon Valley Bank last year. The startup is backed by Tencent, Tanglin, Times Internet, Goodwater Capital and Naver.Pocket FM is in talks with sovereign wealth fund Abu Dhabi Investment Authority (ADIA) to raise a new “large” round of funding as it firms up plans to make deeper inroads into the US.
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