Get All Access for $5/mo

Pocket FM Raises USD 103 Mn in Series D Led by Lightspeed The Bengaluru-based audio entertainment platform aims to deploy the new capital to power global expansion, strengthen content library, and advance generative AI initiatives.

By Paromita Gupta

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

[L-R] Prateek Dixit, Rohan Nayak and Nishant S, Co-founders of Pocket FM

Audio entertainment platform Pocket FM has announced the raising of USD 103 million funding in Series D led by Lightspeed with participation from Stepstone Group.

With this most recent round, Pocket FM has received USD 196.5 million in funding overall. In March 2022, it raised USD 65 million in a Series C round.

As per the official release, the new funding will strengthen Pocket FM's push into the US market and also support global expansion into Europe and LATAM markets in 2024.

It will continue to strengthen its exclusive content library and create a strong IP playbook by providing the writer community a stage to share their unheard stories.

Rohan Nayak, CEO and Co-founder of Pocket FM, said, "Our focus remains on tapping into unique and exclusive stories to solidify our leadership in this emerging category and create a strong IP playbook. This latest funding validates our vision and the possibilities we bring to disrupt the industry."

Founded in 2018 by Rohan Nayak, Nishant S and Prateek Dixit, Pocket FM provides podcasts and other content in Bengali, Tamil, Hindi, and other regional languages.

The platform claims to have over 100,000 hours of content, including 2,000+ exclusive audio series and more than 400,000 episodes across genres and languages.

The company said in a statement that it has surpassed USD 150 million ARR, and is growing at 57% QoQ. It has clocked over 20 million transactions in 2023. Globally, listeners spend an average of over 115 minutes daily. In 2023 alone, the platform witnessed over 75 billion minutes of streaming worldwide.

As per the platform, the company announced its US entry in Q4 of 2022 and its revenue has surpassed USD 100 million ARR in the US market. The platform has approximately 10 million registered users in the US.

Paromita Gupta

Entrepreneur Staff

Features Writer with Entrepreneur India

Covering news and trends in AI and Metaverse segments. An avid book reader running her personal blog on the side. You may reach me at paromita@entrepreneurindia.com. 
Business Solutions

Right Now, You Can Get More Than 310 Hours of IT Training for Just $50

Stay ahead in tech with the CompTIA Super Bundle.

News and Trends

Fast Fire Watch Guards: Protecting Your Business From Today's Fire Hazards

As a watch guard company, Fast Fire Watch Guards provides vigilant monitoring and immediate responses to signs of potential fire hazards in commercial spaces.

News and Trends

growX Ventures Launches Fund II with a Target Corpus of INR 400 Cr

Fund II aims to target early-stage and growth-stage investments, backing 20–24 startups in deeptech sectors. It plans to deploy INR 10 crore in seed and INR 20–30 crore in Series B rounds.

Business News

Here's What the CPI Report Means for Your Wallet, According to JPMorgan and EY Experts

Most experts agree that there will be another rate cut next week.

News and Trends

Recur Club Announces Credit Offerings for Startups Beyond Series A and SMEs

In FY 24–25, the platform also plans to deploy an additional INR 2000 crores through its Recur Swift program for startups.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.