Pocket Aces raises US$14.5MN for mobile-first digital entertainment | Mobile | News | Rapid TV News
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India’s Pocket Aces has raised INR1 billion (US$14.5 million) to invest in multi format digital content, technology and talent in a fresh round of investment led by Sequoia India, DSP Group, and 3one4 Capital.

Pocket Aces logo July 2019The digital entertainment company said it plans three new content channels in the coming year, to increase its social distribution.It aims to hit a run-rate of 1 billion monthly video views on original content by 2020, becoming the first Indian company to do so.

Known for popular long-form shows in India such as Little Things, What The Folks, and Adulting, Pocket Aces will use this latest investment to build capability to create as many as 30 long-form shows a year.

It will also continue to invest in its live and interactive esports app Loco which, since its launch in 2018, now has over 15 million registered users, with active users spending over 30 minutes daily on the app. The company aims to hit 50 million Loco users in the next two years.

Lastly, Pocket Aces said it will bolster its senior leadership team and invest in training and culture development as it embarks on its next stage of growth.

“This investment is a recognition of our leadership in the sector and an acknowledgement of the large potential of the digital entertainment market,”said Pocket Aces co-founders Ashwin Suresh, Anirudh Pandita, and Aditi Shrivastava.

“With the 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!”

As well as Loco, Pocket Aces operates socially distributed channels: FilterCopy for short videos, Gobble for food and lifestyle content, and Dice Media for long-form videos. Each month they record about 500 million video views, the company said.

Sequoia Capital India Advisors MD Shailesh Lakhani said: “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.”

3one4 Capital managing partner Pranav Pai added “The Pocket Aces team has used their deep experience and grounded empathy for their audience’s consumption behaviour and tastes, to build amongst the largest and most viewed content portfolios in the country. With data-driven continuous feedback loops to help rigorously improve their production and narrative quality, their pioneering multi-format and cross-platform approach to the video has engaged the widest segments of the mobile-first demographic.”