Gurugram-based Pocket FM, which operates an eponymous vernacular audiobooks platform, has raised Rs 41 crore (about $5.61 million) from Tencent Cloud Europe, a unit of Chinese technology conglomerate Tencent Holdings, along with venture capital firm Lightspeed India and media house BCCL.
Amsterdam-based Tencent Cloud Europe led the round with a Rs 23.13 crore ($3.16 million) infusion, while Lightspeed India put in Rs 11.22 crore ($1.53 million), regulatory filings showed. Additionally, BCCL, which owns multiple news channels, papers and websites, invested Rs 6.71 crore (about $1 million), it showed.
Founded by IIT-Kharagpur graduates Rohan Nayak and Nishanth Srinivas, Pocket FM is an online marketplace for audiobooks and podcasts. The platform, as per its website, offers over 10,000 hours of audiobooks and podcasts, with both free and paid versions, in Hindi, Tamil and Bengali.
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