Pocket FM Vs Kuku FM, Smartworks IPO Day 1 & More

Pocket FM’s INR 75 Cr Lawsuit Against Kuku FM 

India’s biggest audio tech platforms are in the middle of a legal showdown yet again. This time, Pocket FM has sued Kuku FM over repeated copyright infringement of its intellectual properties (IPs), and sought damages to the tune of INR 75 Cr.

The Latest Battle Over IP: At the heart of the civil case are Pocket FM’s claims that Kuku FM cloned the names of five of its popular audio series. Arguing its case, the former’s legal counsel asserted that the latter had deployed an “elaborate digital system” to execute widespread infringement. 

Meanwhile, the Delhi High Court (HC) has temporarily restrained Kuku FM from releasing any new episodes of the shows until the next hearing on August 29.

Not The First Rodeo: This isn’t the first courtroom battle between the two audio streaming giants. In 2023, they settled a dispute after Kuku FM was accused of distributing audio summaries of books exclusively licensed to Pocket FM. 

In May this year, Pocket FM filed another lawsuit against Kuku FM in the Delhi HC over alleged piracy of its show Insta Millionaire. In response, Kuku FM’s cofounder and CEO, Lal Chand Bisu, publicly accused Pocket FM of orchestrating a smear campaign through fake PR and paid Twitter trends.

The Many Fires Of Pocket FM: The latest courtroom drama is unfolding as both audio streaming platforms are grappling with high losses, steep operational costs, and monetisation challenges. 

The situation appears particularly acute for Pocket FM, which has been in the news for layoffs earlier this year, amid a pivot to AI-led automation to drive profitability. Beyond its domestic legal woes, Pocket FM is also facing multiple lawsuits in the US for flouting labour laws.

While the outcome of these legal battles could shape the future of India’s audio entertainment space, here’s the lowdown on the latest legal battle between Pocket FM and Kuku FM.

From The Editor’s Desk

Smartworks IPO Day 1: The IPO of the coworking major was subscribed 50% on the first day of bidding, with NIIs leading the pack. The public issue received bids for 52.25 Lakh shares as against 1.04 Cr shares on offer.

Inside Premji’s WoodenStreet Bet: The family office led the home and furniture startup’s INR 354 Cr round on the back of WoodenStreet’s continued focus on growth and profits. But, the risks in India’s fragmented furniture industry are aplenty. Will this investment pay off?  

Infinity Fincorp Bags $230 Mn: The MSME-focussed NBFC has raised the funds in a round led by Partners Group, with participation from Jungle Ventures. Infinity Fincorp lends credit to MSMEs, primarily against property. 

Clean Fanatics Nets $2 Mn: The home service platform raised the capital in its seed round led by Inflection Point Ventures, with participation from Blume Founders Fund and others. The startup offers deep cleaning, painting and marble polishing services. 

Celebs Under ED Scanner: The Enforcement Directorate has booked celebrities like Rana Daggubati, Prakash Raj, and 26 others for promoting illegal betting apps. The case pertains to platforms like A23, JeetWin, and others being involved in alleged money laundering. 

NPCI Expands UPI-verse: The digital payments body has signed a licensing agreement with the Namibian central bank to develop a real-time payments platform akin to UPI. Under the pact signed last year, NPCI will offer the tech stack and other insights to the Bank of Namibia. 

BYJU’S Sues Dubai Partner: The resolution professional of the edtech’s parent has filed an INR 1,597 Cr lawsuit against More Ideas General Trading over unpaid dues. The RP has accused More Ideas of not transferring revenues from the sale of BYJU’S products in the Middle East.

Tracxn Shares Zoom: The market intelligence platform’s shares rose as much as 10% to INR 63.86 during intraday trading on the BSE on the back of a share buyback worth nearly INR 8 Cr. The company also allotted 96K equity shares worth INR 55.80 Lakh under an ESOP scheme.

Inc42 Startup Spotlight

How Indrajaal Wants To Protect Indian Skies With its Anti-Drone Systems

The recent conflict between India and Pakistan showed how the rules of modern warfare are being rewritten with UAVs and drones. However, Kiran Raju, Sunil Kalidindi and Mallela VN Sai had this realisation in 2023 itself. This led to the inception of Indrajaal that very year. 

Building India’s Iron Dome: Indrajaal is building an AI-powered drone defence dome to protect military and other valued assets from drone attacks. The Hyderabad-based startup has developed a networked AI-powered system that can detect, identify, and neutralise aerial threats over areas as vast as 4,000 sq km, offering complete 360-degree protection for high-value targets.

Indrajaal’s Real-Time Shield: While most existing counter-drone solutions are fragmented and are unable to provide real-time protection, the startup’s 12 proprietary technologies offer wide-area protection to military assets, urban centres, and critical infrastructure.

Locking Heads With Heavyweights: Indrajaal locks horns with established players like Adani Defence and Paras Defence And Space Technologies, which have an edge with their deep pockets and years of expertise. But, there is plenty of room to grow as India’s indigenous pitch is projected to make the homegrown anti-drone market a $496.71 Mn opportunity by 2031. 

With its deeptech IP and focus on national security, can Indrajaal lead India’s next wave of autonomous airspace defence?