Pocket FM: ETtech Deals Digest: Apollo.io, Pocket FM, Filo raise funds

Integrated business-to-business (B2B) sales intelligence and engagement platform Apollo.io, audio streaming platform Pocket FM, instant live tutoring startup Filo were among the startups that raised funds this week.

Apollo.io raises $110 million in funding

Apollo.io, an integrated business intelligence and business-to-business (B2B) engagement platform, closed a $110 million funding round led by Sequoia Capital.

The round also saw participation from existing investors Tribe Capital, Nexus Venture Partners and NewView Capital.

The platform plans to use the funds to accelerate its product-driven growth. It also plans to increase its product and engineering investments by nearly 300% to continue building the best-in-class platform. Apollo.io has raised over $150 million to date.

The funding follows a period of strong growth for Apollo.io. Its annual recurring revenue (ARR) has nearly tripled in the past 12 months, the company said in a statement. Since announcing its Series B funding round three months ago, Apollo.io has grown its paying customer base by nearly 60% to more than 15,000 paying customers.

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Pocket FM raises $65 million in new funding

Pocket FM audio streaming platform has raised $65 million in a funding round led by Goodwater Capital, Naver and existing investor – Tanglin Venture Partners.

The company plans to use the new funds to strengthen its leadership position, expand into new languages, invest in AI capabilities, and build a large community of audio creators.

Pocket FM previously raised $28.6 million from high-profile investors including Lightspeed, Tencent, The Times Group, and Tanglin Venture Partners. ETtech is owned by Times Internet, part of the Times Group.

Filo Raises $23M in Funding

Instant live tutoring startup Filo has raised $23 million in a funding round led by Anthos Capital.

The round also saw participation from existing investor Better Capital along with GSV, Sapling Capital and a host of well-known individual investors including Gokul Rajaram, Rob Frohwein (co-founder Kabbage), Mate Pencz and Florian Hagenbuch (founders, Loft) and Ross Lipson (co-founder, Dutchie).

The edtech startup plans to use the new capital for product development, team expansion, tapping into new categories and scaling its tutor base across the country.


Kuhoo secures $20 million in new funding

Fintech student loan platform Kuhoo has raised $20 million from WestBridge Capital, in its first institutional funding.

The eight-month-old startup is looking for partner banks and non-bank financial companies (NBFCs) as well as the best colleges to provide credit to students.

Kuhoo provides digital loans to students applying to universities in India and abroad.

Damensch Raises $16.4M in Funding Led by A91 Partners

Damensch, a direct-to-consumer (D2C) men’s lifestyle brand, raised $16.4 million in a Series B funding round led by A91 Partners.

The company manufactures loungewear and loungewear for men. It will use the funds to invest in technology improvements, strengthen and diversify the product portfolio, the company said in a statement.

Existing investors Saama Capital, Matrix Partners, Whiteboard Capital and Alteria Capital also participated in this round, Damensch said.

The company will use the new capital to recruit more product specialists as well. “We have capitalized on the tailwind of consumer buying behavior shift towards online and recorded Rs 100 crore in annualized revenue rate or ARR in 2021,” said Anurag Saboo, co-founder of Damensch.

other key offers

■ Supply chain and warehousing startup Prozo has raised Rs 76 crore ($10 million) from Sixth Sense Ventures, Jafco Asia and high net worth individuals, founder Ashvini Jakhar told ET. Prozo will use the new funds to expand into other regions, acquire customers, invest in technology and hire staff, Jakhar said.

■ Indian microblogging platform Koo has raised around Rs 79 crore in two tranches from a group of investors including Caspier Venture Partner, Ashneer Grover and Ravi Modi Family Trust, according to regulatory filings. Under the first tranche, which was executed in January, the company said it had awarded 3,389 Compulsory Convertible Preference Shares Series B2 (CCPS) to seven investors for Rs 28 crore, documents seen by ET show.

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