Vietnam audio platform nets $1.8m for podcast push

Fonos, an audio content platform, has raised US$1.8 million in a pre-series A round led by North Base Media, with AngelCentral, Orvel Ventures, and Vietcetera’s Vietnam Innovators Fund participating. The firm last raised a US$1.1 million seed funding round in 2021.

Fonos founders Xuan Nguyen (left) and Oscar Jesionek / Photo credit: Fonos

Founded in 2019 by Xuan Nguyen and Oscar Jesionek, the Vietnam-based firm has curated over 2,100 pieces of exclusive meditation content, book summaries, and audiobooks.

Fonos said it grew its revenue by 7x in 2021 and is continuing its upward trajectory this year. It also recorded 130,000 monthly active users on its app in October 2022.

According to the company, Fonos has remained at the number one spot in the book category for Vietnam’s Apple and Android app stores for several months. Data.ai stats show that Fonos is responsible for most audiobook sales in the country.

The company will use the fresh funding to expand into podcasting and further its content acquisition efforts.

“We’ve been laser-focused on the audiobook market for the past three years with the goal of becoming the market leader. We’re now ready to take that same focus and apply it to the podcasting market,” CEO and co-founder Jesionek said.

With ambitions to become a key podcasting player in Vietnam, the firm says it will launch several related initiatives in Q1 and Q2 2023.

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