Amount Raised
$16 Million
Round Type
Debt Financing
BengaluruCommerce and ShoppingHardwareSoftwareMedia And EntertainmentMobileInternet ServicesConsumer ElectronicsMusic And AudioEntertainment ProvidersDescription
Audio Series platform Pocket FM on Tuesday said it has secured $16 million in debt funding from US-based Silicon Valley Bank (SVB), a division of First Citizens Bank. The company said that with this additional capital infusion, it will look to double its strategic priorities to strengthen its audio series library, expand its creator community globally and accelerate its revenue.“We are thrilled to be leading the way in creating a new entertainment category in the form of audio series, with a focus on strong unit economics. The debt funding we have secured gives us the resources to continue expanding our content library and build the largest audio series platform globally," Rohan Nayak, Co-founder & CEO, Pocket FM said in a statement.Nayak told ET that the company was well capitalized even without the debt funding. However, he said that the debt funding was an indicator of the company's 'strong unit economics' and validation of their business model
Quick answer
Pocket FM raised $16 Million in a Debt Financing round, dated May 2, 2023. Pocket FM is based in Bengaluru, Karnataka, India.
- How much did Pocket FM raise?
- Pocket FM raised $16 Million in a Debt Financing round on May 2, 2023.
- What does Pocket FM do?
- Founded in 2018, Pocket FM was built with a vision to redefine the entertainment space by pioneering the audio-series category.
- Where is Pocket FM based and how big is it?
- Pocket FM is based in Bengaluru, Karnataka, India. Fundz records about 890 employees.
- Who are the decision-makers at Pocket FM?
- Fundz holds 2 contacts at Pocket FM, including the Co-Founder & CEO. Names and contact details are shown to Fundz members.
Source: Fundz verified event record.
Who else raised in Commerce and Shopping and Hardware around the same time
Companies in the same sectors as Pocket FM that raised within 45 days of this round, from Fundz verified event records.
- Telgorithm Inc. raised $937K (Seed) on May 15, 2023.
- Pudu Robotics raised $15M (Series C) on May 8, 2023.
- MobileX raised $680K (Seed) on March 24, 2023.
- Reebelo raised an undisclosed amount (Series A) on March 20, 2023.
- Blackbird.AI raised $20M (Series B) on June 15, 2023.
- Gameon Entertainment Technologies raised $1.7M (Seed) on June 13, 2023.
Who to call at Pocket FM, and when
A new round usually means Pocket FM is about to hire and buy. The teams that reach out first get the meeting.
- An alert the day Pocket FM raises, hires an executive or expands, scored against what you sell
- The decision-makers there, with verified emails
- Who you already know at Pocket FM, from your own LinkedIn network
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Related People
Pocket FM raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.
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