MUMBAI: After music streaming service Saavn raised over $100 million not so long ago, its competitor Times Internet’s Gaana.com is all set to make a similar move in order to expand its base and invade newer territories. If industry sources are to be believed, the venture is looking to raise over $150 million.

While Gaana.com business head Pawan Agarwal confirmed to Indiantelevision.com on the fund raising, he declined to disclose the amount as well as the parties that were looking at investing into the venture.

“India is a vast market and we have aspirations of expansion and to fuel that we plan to raise funds through venture capitals and other private investors,” said Agarwal.