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Pocket FM revenue soars to Rs 1,000 Cr in FY24 boosted by US expansion, subscription growth

YourStoryYourStory · 9m ago
Pocket FM revenue soars to Rs 1,000 Cr in FY24 boosted by US expansion, subscription growth
Medial

Pocket FM, the audio series platform, reported a 496% increase in global revenue to INR 1,051.97 crore in FY24. The growth was fueled by its microtransaction-led subscription model and expansion into international markets. Subscription revenue grew nearly six-fold, reaching INR 934.73 crore. The company also witnessed a 7X increase in advertising revenue, driven by increased user engagement on the platform. Global markets, particularly North America, played a significant role in the revenue growth. Pocket FM utilizes an AI-powered blockbuster engine to curate stories with mass appeal and has collaborated with over 250,000 writers to adapt stories for diverse audiences. The focus on operational efficiency and innovative monetization strategies has brought the company closer to profitability.

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PayU-backed Mindgate profit soars 3.6X in FY24, posts Rs 257 Cr revenue

EntrackrEntrackr · 5m ago
PayU-backed Mindgate profit soars 3.6X in FY24, posts Rs 257 Cr revenue
Medial

Payments technology company Mindgate made headlines last week after Prosus’s PayU acquired a 43.5% stake in the firm. The strategic acquisition followed Mindgate’s impressive 34.6% year-on-year growth, with revenue surpassing Rs 250 crore in FY24 and net profits surging 3.6X. Mindgate’s revenue from operations grew to Rs 257 crore in FY24 from Rs 191 crore in FY23, its consolidated financial statements accessed from the Registrar of Companies (RoC) show. Mindgate is a digital payments company specializing in real-time payment processing and enterprise payment solutions for banks, financial institutions, and businesses. Income from subscription-based SaaS services accounted for 87.7% of the total operating revenue, which rose by 35% to Rs 201 crore in FY24. Revenue from transaction processing and annual maintenance services contributed Rs 40 crore and Rs 16 crore, respectively. The company also earned Rs 4 crore from interest on current investments, bringing its total revenue to Rs 261 crore in FY24 from Rs 195 crore in FY23. Similar to other SaaS tech firms, employee benefits made up 71% of Mindgate’s overall expenditure. This cost rose by 22.6% to Rs 163 crore in FY24. Additional expenses such as rent, subscription and membership fees, travel, advertising, and overheads pushed the total expenditure up by 24.5% to Rs 229 crore in FY24, compared to Rs 184 crore in FY23. Year-on-year growth, coupled with controlled costs, enabled Mindgate to post a 3.6X surge in profits to Rs 23.2 crore in FY24 from Rs 6.5 crore in FY23. At a unit level, the company spent Re 0.89 to earn a rupee in FY24, with improved ROCE and EBITDA margins of 17.03% and 13.6%, respectively. By the end of FY24, its total current assets stood at Rs 211 crore, including cash and bank balances of Rs 74 crore.

Pocket FM raises $103 Mn in Series D round

EntrackrEntrackr · 1y ago
Pocket FM raises $103 Mn in Series D round
Medial

Audio series platform Pocket FM has scooped up $103 million in its Series D round led by Lightspeed, and with participation from Stepstone Group. The new funding will strengthen Pocket FM’s push into the US market and also support global expansion as the company plans to expand into Europe and LATAM markets this year, the firm said in a press release. Pocket FM facilitates long-form audio content including audio shows, stories, and novels. The company will keep creating exclusive content libraries by providing a platform to the writer community. This latest round brings Pocket FM’s total funding to date to $196.5 million. Entrackr had exclusively reported about Pocket FM’s new fundraise in October last year. The Bengaluru-based company claims to have over 100,000 hours of content, including more than 2,000 exclusive audio series and more than 400,000 episodes across genres and languages. The company also said that it has surpassed $150 million (Rs 1,250 crore) ARR, and is growing at 57% QoQ. In 2023, it clocked over 20 million transactions and claimed that its US revenue crossed $100 million in average revenue run rate (ARR) during the last calendar year. “US audiences are the most engaged on the platform globally, spending over 135 minutes daily. The platform has approximately 10 million registered users in the US,” the firm added in the press release. The Indian entity of Pocket’s FM reported an 8.7X surge in its revenue to Rs 148.7 crore in FY23 from Rs 17 crore in FY22, according to startup data intelligence platform TheKredible. The firm also managed to contract its losses by 73.5% to Rs 45.47 crore in FY23 from Rs 171.6 crore in FY22. Its direct competitor Kuku FM raised $25 million in its Series C round in September last year. The company’s revenue from operations rose to Rs 41.2 crore during FY23 from Rs 4.4 crore in FY22.

Zepto revenue soars 2.5x to Rs 11,110 Cr in FY25

EntrackrEntrackr · 1m ago
Zepto revenue soars 2.5x to Rs 11,110 Cr in FY25
Medial

Zepto revenue soars 2.5x to Rs 11,110 Cr in FY25 Quick commerce unicorn Zepto clocked Rs 11,110 crore (nearly $1.3 billion) in turnover in FY25, a sharp 150% jump from Rs 4,454 crore in FY24, according to regulatory filings reviewed by Entrackr. Zepto’s FY25 performance comes on the back of aggressive execution and disciplined expansion. According to earlier Aadit Palicha’s post, the company was at $3 billion in annualized gross order value (GOV) and halved its losses over the last year. In FY24, Zepto incurred losses of Rs 1,248 crore on revenue of Rs 4,454 crore. That means the startup spent Rs 1.29 to earn every Rs 1 of revenue in FY24, a figure it has reportedly improved in FY25 with better unit economics, higher fill rates, and stronger contribution margins. We are not comparing Zepto's FY25 numbers with Instamart and Blinkit due to differences in their business models and accounting practices. However, the NOV (net order value) of Blinkit stood at Rs 22,731 crore in FY25, while Swiggy’s quick commerce biz Instamart GOV was recorded at Rs 14,600 crore in the same period. Zepto's founder Aadit Palicha did not comment on the story. As per a recent report, Zepto is in talks to raise $500 million at a potential $7 billion valuation, a significant jump from its previous valuation of $5 billion when it raised $350 million in November 2024. The fresh round is expected to bolster Zepto’s runway ahead of a potential IPO in 2026, as the company pushes toward EBITDA break-even in the next 12–15 months.

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