Founded in 2018 by Nishanth KS, Prateek Dixit, and Rohan Nayak, Pocket FM is an audio book platform that offers content across multiple languages
Pocket FM said in a statement that it has invested $40 Mn to bolster its position in the digital literary space
The startup has launched Pocket Novel with a base of 150K writers and envisions building a community of 1 Mn writers and strengthening its library to 2 Mn novels by 2025
Audio over-the-top (OTT) platform Pocket FM has rolled out its online novel reading platform Pocket Novel aiming to expand its offerings to other entertainment segments and formats.
The startup said in a statement on Tuesday (February 20) that it is also planning to invest $40 Mn in its new venture as it aims to clock $100 Mn in annualised revenue run rate (ARR) globally by 2025.