Umesh Bude Appointed as CTO at Pocket Entertainment
Pocket Entertainment, the parent entity of Pocket FM, Pocket Toons, and Pocket Novel, has promoted Umesh Bude to the role of Chief Technology Officer (CTO). Previously serving as Senior Vice President of Engineering, Umesh is set to lead the technology strategy of the company, with a keen focus on shaping the future of AI-powered storytelling across its various platforms.
Leadership and Responsibilities of the New CTO
In his new role, Umesh will manage the entire tech stack at Pocket Entertainment. He will spearhead innovative projects to expand the company’s products on a global scale. His key responsibilities will include creating scalable systems, enhancing generative AI capabilities, and delivering tech-driven innovations that empower both creators and audiences.
A Vision for Technology and Creativity
Umesh expressed his enthusiasm about his promotion, noting that it is a great opportunity to lead at a time when technology and creativity converge at Pocket Entertainment. He is eager to drive the upcoming wave of innovation, where technology and AI serve as not just enablers, but also as storytellers themselves.
Ongoing Collaboration and Strategic Goals
Umesh will maintain his reporting line to Prateek Dixit as the company works to strengthen its position at the intersection of entertainment and technology.
Recent Developments at Pocket Entertainment
Earlier in the year, Pocket Entertainment unveiled Pocket Toons, an AI-driven comics platform that revolutionises storytelling and content creation. This innovative move highlights the company’s commitment to utilising AI in imaginative ways.
Series D Funding and Financial Growth
In March 2024, Pocket FM successfully raised $103 million during its Series D funding round, led by Lightspeed with participation from Stepstone Group. To date, the company has amassed a total funding of $196.5 million and was valued at $750 million in its latest equity round.
Pocket FM has witnessed remarkable financial growth, with global revenue surging to Rs 1,051.97 crore in FY24, up from Rs 176.36 crore in FY23. The Bengaluru-based company has also shown improvement in its economic performance, with losses narrowing by 21% to Rs 165 crore in FY24.