Music streaming app Gaana raises Rs 375 crore in debt

BENGALURU: Gaana has raised 375 crore in debt funding from existing shareholders Chinese technology giant Tencent, and Times Internet (TIL).

The development comes nearly two years after Tencent led a $115 million funding round in the music streaming service. “We recently raised 375 crore debt from existing shareholders, Times Internet, and Tencent. Gaana is India’s leading music streaming service with over 185 million monthly active users,” a company spokesperson said.

Times Internet is the digital arm of the Times Group, which also publishes this paper.


Gaana’s fundraising was first reported by news portal Entrackr.

In July, Gaana had debuted a short-video platform HotShots, in a bid to capitalise on the unprecedented consumer demand following the ban on ByteDance-owned TikTok. The music streaming service has signed up exclusive contracts with several top TikTok influencers, ET reported in August.