Pocket Aces Pictures raises $2.32 million funding

Mumbai: Digital entertainment startup Pocket Aces Pictures Pvt. Ltd has raised Rs 17 crore ($2.32 million) in a funding round led by venture debt firm Stride Ventures.

Stride said in a statement on Wednesday that the venture debt firm will be a strategic partner of Pocket Aces’ growth journey with this investment.

Pocket Aces will use the funds to boost its content output and invest in new content formats and distribution channels, it added.

The digital entertainment startup was founded by Anirudh Pandita, Aditi Shrivastava, and Ashwin Suresh in 2013.

It conceptualizes, creates, and distributes written and video content including web series through its social media and online channels – Dice Media, FilterCopy, and Gobble. The startup also operates Loco, a game streaming, and esports app. Last year, it launched its talent management division Clout.

Previously in July 2019, Pocket Aces had raised Rs 100 crore from Sequoia Capital India, DSP Group, and 3one4 Capital, among others, as part of its Series B funding round.

Competitors of Pocket Aces’ brands include over-the-top (OTT) platform The Viral Fever and esports platform Mobile Premier League.