The Indian Wire » Startups » Pocket Aces secures ₹100 crore from Sequoia India, 3one4 Capital, DSP Group
Startups

Pocket Aces secures ₹100 crore from Sequoia India, 3one4 Capital, DSP Group

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Pocket Aces, a digital entertainment company, based out of Mumbai, has secured ₹100 crore from Sequoia India, DSP Group, 3one4 Capital and others.

The platform aims to utilize the fresh funds to invest in content, technology, and talent. It will also multiply its social distribution by starting three new content channels in the next 12 months.

“With massive penetration of mobile internet in India and a large consumer base hungry for local content, we believe that there has never been a better time to build a large content business here. We are excited to create new entertainment options for a new India,” the co-founder of Pocket Aces, collectively, said.

Pocket Aces was founded by Ashwin Suresh, Anirudh Pandita, and Aditi Shrivastava in 2013. It is a digital entertainment company that focuses on mobile video. The firm aims to hit a run rate of one billion monthly video views on original content by 2020.

“Pocket Aces has exceeded expectations in creating a high quality mix of mobile-friendly, episodic, and interactive content offerings. They are building a truly impactful business in India’s exploding digital entertainment industry, and Sequoia India is thrilled to continue supporting Ashwin, Anirudh, Aditi, and the entire team,” Shailesh Lakhani, managing director, Sequoia Capital India advisors, said.

In 2018, the firm had announced the launch of its e-sports app, Loco, which has over 15 million registered users, with active users spending over 30 minutes daily on the app. The company has grown its team strength to 145 with offices in Mumbai, Bengaluru, and Delhi.

“The Pocket Aces team has used their deep experience and grounded empathy for their audience’s consumption behaviour and tastes, to build among the largest and most viewed content portfolios in the country,” Pranav Pai, Managing Partner at 3one4 Capital, said.

Apart from Pocket Aces, other players in the similar domain includes Meshi Creations, Nirvana Digital, Ventuno, Saranyu Technologies, Vdopia, etc.

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