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Gaana raises $50 Mn led by Tencent at a $530 Mn valuation

Shortpedia

Content Team
Image Credit: shortpedia

Music and podcast streaming platform Gaana has raised $50 million in a fresh round led by existing investor Tencent along with participation from Times Internet. The fresh infusion will provide much firepower to the Prashan Agarwal-led company which has been competing with rivals such as JioSaavn, Spotify, YouTube Music and Wynk. This investment comes over two years after Tencent led a $115 million round in Gaana.