A $5.4 million Series A fundraising round has been secured by Dubai-based podcasting company Podeo.
Julien Plouzeau, Senior Partner at Oraseya Capital confirmed the funding in a press release on Monday.
The Dubai Integrated Economic Zones Authority’s venture capital arm, Oraseya Capital, led the round that saw participation from Ibtikar Fund, Cedar Mundi Ventures, Samarium, iSME, and returning investor Razor Capital also participated.
Podeo, a platform for podcasters, was founded in 2020 by Stefano Fallaha, Anthony Essaye, and Mario Hayek.
According to the company, it streamlines everything from content development and distribution to monetisation. Its special distribution interfaces increase visibility on chat applications, ride-hailing services, radio stations, airlines, and gaming platforms.
Newsng gathered that it was a side project for Fallaha where he attempted to create an audio-based social network that he called Fallound, a play on his name that also sounds like sound/around.
“We’re excited to support Podeo in the next phase of their growth”, said Plouzeau. “Podeo’s unique distribution model and Stefano’s leadership and industry insight have propelled the company to the forefront of the podcasting industry in the MENA region.
“Their capacity to solve discoverability challenges is reshaping the way creators and advertisers engage with audiences, and we are particularly confident in their ability to scale this successful blueprint across new markets”.
With this funding, Podeo will be able to further enhance its AI capabilities, expand its worldwide reach, concentrate on Latin America, Eastern Europe, and Southeast Asia, and keep releasing solutions that will transform the podcast value chain.
We earlier reported that 11x, one of Europe’s most heralded AI startups in recent years has raised a $24 million Series A financing.
