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.
Pocket FM had previously raised $28.6 million, from existing marquee investors like Lightspeed, Tencent, Times group, and Tanglin Venture Partners. ETtech is owned by Times Internet, a part of the Times group.
The platform offers more than 100,000 hours of enriching long-format content, audio series, stories, novels, podcasts and knowledge shows in 8 languages (Hindi, Tamil, Telugu, Malayalam, Bangla, English, Kannada, and Marathi). It claims to have over 50 million users and 3 billion+ monthly listening minutes.
“ 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.
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