AS NON-MUSIC AUDIO content such as audiobooks, podcasts and audio series are likely to lead the growth for the audio entertainment segment, startups like Pocket FM and Kuku FM are now doubling down on their expansion strategies. They are eyeing either fresh capital or lucrative content deals with foreign players to ride the growth.
Pocket FM, which offers bite-sized episodes of audio stories and novels in regional languages, has raised $103 million in a Series D funding round, led by Lightspeed with participation from Stepstone Group. This marks the second $100-million cheque raised in India so far this year after logistics startup Shadowfax.
The platform plans to use the funds to deepen its push into the US market, and eventually expand into Europe and LATAM markets this year. It will continue to strengthen its content library and IP playbook and also use generative AI tools to offer translation service and personalised recommendations to enhance user experience.
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