Indonesian digital media startup Svara bags pre-series A funding

Svara, an Indonesian broadcasting and media platform, announced that it has secured an undisclosed amount of pre-series A funding from venture capital firm UMG Idealab, pushing its valuation to around US$10 million.

Photo credit: Svara

The startup will use the new funds to develop its products, bolster its product development and marketing teams, expand strategic partnerships, and help educate the radio industry on digital transformation.

“We are very grateful for the capital we got. The entire team at Svara has gone through a long struggle to get to this point, and we are very confident that Svara will become the next unicorn in Indonesia,” Farid Fadhil Habibi, Svara co-founder and CEO, said.

Founded in 2017, Svara operates an on-air platform and an online platform, leveraging technologies such as cloud computing, big data, AI, and programmatic advertising.

Through its app, users can enjoy audio and non-audio content, including radio, music, and podcasts, as well as various features such as live visual radio, live chat, and social audio, among others. The app is available for Android and iOS devices, but the company also plans to make it accessible via smart speakers, connected cars, smart watches, and smart TVs.

Svara claims its platforms have seen more than 100 AM and FM radio broadcasts, positive feedback from over 10 community radios, and more than 250,000 app users.

UMG Idealab is the corporate venture capital arm of Myanmar’s UMG Group. It has already invested in 30 startups in Indonesia to date, according to the statement.