Pocket FM, a Bengaluru-based audio OTT platform, has raised $65 million in a Series C round led by Goodwater Capital, Naver, and existing investor Tanglin Venture Partners.

As per the startup, the freshly raised funds will be used to strengthen its leadership position, expand into new languages, invest in AI capabilities, and build the largest audio creator community. 

Pocket FM | Audio OTT Platform

Founded by Nishanth Srinivas, Rohan Nayak, and Prateek Dixit in 2018, Pocket FM is an online marketplace for audiobooks and podcasts that lets users discover and enjoy the greatest selection of audio content ranging from audiobooks, stories and podcasts from the most diverse creator community. 

The online marketplace for audiobooks and podcasts claims to be offering over 1 lakh hours of enriching long-format content, audio shows, stories, novels, and podcasts. It also claims to have over 50 million users and three billion+ monthly listening minutes.

Speaking on the development, Nishanth Srinivas, Co-founder and COO of Pocket FM, said,

“In addition to audio entertainment, we saw 12X growth in consumption of self-help books audio courses. Users are looking for high quality knowledge content to upskill themselves. With this investment, we are looking to grow our creator community further, be the biggest audio destination for entertainment and knowledge, and target five million paying users in the next 12 months.” 

In December 2021, Pocket FM secured Rs 168 crore ($22.4 million) in a Series B round of funding led by its existing investor Lightspeed Venture Partners.

The audio OTT platform currently works with a thriving community of over 50,000+ PUGC (professional user-generated content) writers and voice artists. It has a plethora of the finest and premium audio content in eight languages (Hindi, Malayalam, Bangla, English, Tamil, Telugu, Kannada, and Marathi). 

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