PE Fund Investments
Podcast app Pocket FM raises $22.4 M from Lightspeed, Tanglin, others
Gurugram-based audio streaming startup Pocket FM has raised USD 22.4 million in Series B round led by Lightspeed Ventures, with participation from new investor Tanglin Venture Partners and existing investors including Times Group. The company plans to use the funds raised to scale up its operations, strengthen its community of audio content creators, invest in technology to provide better recommendations and expand its presence across geographies. Founded in 2018, Pocket FM provides more than 100,000 hours of long-format audio content across audiobooks, shows, stories, novels, and podcasts in English and seven Indian languages - Hindi, Tamil, Telugu, Malayalam, Bengali, Kannada, and Marathi.
From the Venture Intelligence PE-VC Deal Database: Between Jan-19 and Apr-20, Pocket FM raised $6-M from Tencent, Lightspeed Ventures, and others. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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