Pocket FM Gets $16 Million In Debt From Silicon Valley Bank
Audio series and story platform Pocket FM Pvt. said on Tuesday that it secured $16 million, or around Rs 131 crore, in debt funding from the recently rescued Silicon Valley Bank.
The Gurugram-based startup said it would use the funds to strengthen its audio series library and expand its creator community.
Founded in 2018, Pocket FM has raised $93.5 million until Series C. With this new debt round, the total capital infusion has increased to nearly $110 million. The company claims to have eight crore listeners globally, with an average of over 150 minutes spent on the platform daily.
"The debt funding we have secured gives us the resources to continue expanding our content library and build the largest audio series platform globally," Chief Executive Officer Rohan Nayak said.
"Its unique approach to audio entertainment and impressive unit economics shows significant revenue potential in a massive addressable market," SVB Senior Vice President Chris Cameron said.
The debt comes from SVB, which collapsed and became a division of First Citizens Bank after it was placed into receivership by the Federal Deposit Insurance Corp.
-
Ten Things I Learnt This Samvat
Patience can be a trap. Cheap stocks can stay cheap. Leverage can wipe you out. What did Samvat 2082 teach us? Niraj Shah writes on 10 lessons from the year gone by.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
