Pocket FM’s fresh fundraise likely to value audio streaming startup at $1.2 billion

Pocket FM, an online audio streaming platform, is close to finalising a new fundraise which will likely catapult it into the unicorn club of privately held tech companies valued at $1 billion or more, according to people close the matter.

The audio entertainment startup is in talks with the Abu Dhabi Investment Authority (ADIA) for its latest funding which is expected to value it around $1.2 billion, the people said. The latest funding talks come on the back of the Bengaluru-based company announcing on Wednesday that it had raised $103 million in equity funding.