Pocket FM to raise $150 million

The firm has appointed Goldman Sachs to raise the funds it will use for global expansion, stronger technology

- Priyamvada C. & Sneha Shah

In February, Pocket FM had outlined plans to raise more than $100 million.

Audio streaming platform Pocket FM has appointed Goldman Sachs to raise $100-150 million to fund its global expansion and strengthen its technology, three people familiar with the matter said.

"The round is likely to have a primary and secondary component where some of the earlier investors may look to sell," one of them said, adding that the terms are yet to be finalized.

"The transaction was formally launched a couple of weeks back and several global private equity firms have been sounded out as the company plans to strengthen its international operations," a second person said.

Pocket FM and Goldman Sachs declined to comment.