Fonos: Podcast Platform Pushes Vietnam’s $1.8M Audio Market

A pre-series round of funding for audio content platform Fonos, headed by North Base Media and included participation from AngelCentral, Orvel Ventures, and Vietcetera's Vietnam Innovators Fund, received US$1.8 million. In addition, the business's most recent seed fundraising round was US$1.1 million in 2021.

The Highlights:

• A pre-series round of funding for the audio content platform Fonos, managed by North Base Media and included participation from AngelCentral, Orvel Ventures, and Vietcetera's Vietnam Innovators Fund, received US$1.8 million.
• According to Fonos, its income increased seven times in 2021 and will likely continue to grow this year. In October 2022, it also reported 130,000 monthly active users on its app.
• The company claims it will launch a number of similar efforts in Q1 and Q2 2023 with the goal of becoming a significant participant in the Vietnamese podcasting market.

The Vietnam-based company, established in 2019 by Xuan Nguyen and Oscar Jesionek, has assembled over 2,100 unique meditation resources, including book summaries and CDs.

Fonos aims to make premium audio content accessible to everyone in Vietnam. With hundreds of exclusive best-selling audiobooks, hundreds of book summaries, and a large range of carefully chosen meditations, the Fonos app is the top Vietnamese audio app.

Per the Fonos, its income increased seven times in 2021 and will likely continue to grow this year. In October 2022, it also reported 130,000 monthly active users on its app.

According to the business, Fonos has held the top rank in the book category for both the Apple and Android app stores in Vietnam for months. According to data.ai statistics, Fonos is in charge of most audiobook sales nationwide.

The business will utilize the additional capital to increase its content acquisition operations and enter the podcasting market.

CEO and co-founder Jesionek said. “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,”

In Q1 and Q2 of 2023, aiming for the main podcasting player in the Vietnam market, Fonos imply they are planning to launch further associated inventiveness.

Adapted from TechInAsia and AngelCentral