Audio streaming platform Pocket FM launches Pocket Novel, an online reading platform for Indian writers and readers, and plans to invest $40M.

Audio streaming platform Pocket FM launches Pocket Novel, an online reading platform for Indian writers and readers, and plans to invest $40M. The platform aims to become India's largest online reading destination, targeting $100M ARR worldwide by 2025. Pocket Novel currently has over 150,000 writers and aims to reach 1M writers and 2M novels by 2025. The platform's revenue has grown 500% in 2023.