Home Breaking News Denmark based start-up Podimo raises USD 13.6 Million funds

Denmark based start-up Podimo raises USD 13.6 Million funds

Copenhagen based start-up Podimo has secured USD 13.6 million funds on 19th of February,2021 in series A round led by Chr. Augustinus investment fund. The organization has now acquired a total amount of USD 40.3 million funds. 

Investors: The capitalisation of USD 13.6 million funds took place in the series A funding round led by Chr. Augustinus investment fund along with the involvement of previous investors like Spanish VC, Heartcore Capital and e.Ventures. 

What the funding is for: The fresh funding would be utilised for global expansion and establishing their enterprises at metropolitan cities. According to sources the company is also aiming to develop their ecosystem in a more flourished and efficient manner. 

Founders of the company: Morten Strunge and Nikolaj Koppel

About the company: Podimo is a privately held organization which operates under the entertainment industry. Its headquarters is established in Copenhagen, Denmark and has a work strength of around 11-50 employees. They also deal with various specialties like podcast management, entertainment and human resources. Podimo is basically an open podcast platform which provides a subscription service for creators. 

What the CEO has to say: “Our dream is to address two challenges in the developing podcast industry, the first is discoverability, where we intelligently match listeners to the content they love. And the second is monetization, where we provide a new stream of revenues for creators which allows them to focus on creating and invest great in storytelling.” — Morten Strunge, Co-founder of Podimo. 

“By providing a freemium model where a paid version provides unlimited features and listening, we believe there is an opportunity to work closely with podcast creators to strengthen the podcast ecosystem and make it less reliant on advertising revenue.” — Nikolaj Koppel, Co-founder of Podimo. 

What the investors have to say: “We want the preferred partners for creators, by both working closely with their content, curating and matching it with each individual user, but also by offering a superior monetisation model. The hopes that a more robust revenue stream will enable new content producers to enter the market and allow existing ones to earn more. In turn that would provide the financial headroom to invest even more time and effort into high quality content.” — General Manager at Chr. Augustinus investment fund.

“We have seen strong traction on our podcast and short form audio subscription service and now more than 50% of our growth comes from pure international markets. Our exclusive catalogue has grown more than 600 exclusive productions and our vision of building out a revenue stream to creators of short form content really seems to be getting traction.” — CEO of e.Ventures.

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