Noice, an Indonesian podcast platform operated by listed radio firm PT Mahaka Radio Integra (MARI), announced raising its pre-Series A round co-anchored by existing investor Alpha JWC Ventures and Go-Ventures.
The startup said it raised a seven-digit sum in the round without specifying the details. Return backers Kinesys Group and Kenangan Fund, and some angel investors joined the latest round.
Noice CEO Rado Ardian, a former Google executive, said the new investment will focus on technology and original content development, and hiring talent across the region.
The platform, Ardian added, will also incorporate new features to expand its content distribution, set up monetisation tools, and increase in-app community engagement.
Launched in June 2018, Noice is part of the Mahaka Media Group, founded by Indonesian businessman Erick Thohir, who currently serves as state-owned enterprise minister in the government.
The startup provides an audio platform that streams local audio content to over 800,000 registered listeners across Indonesia. It claims to have more than 100 original shows, including radio streaming and audiobooks.
By 2020, the majority of content on the Noice platform was dominated by podcasts. Unlike global rival Spotify that has partnered with podcast content creators in Indonesia, Noice has built its entire repertoire in-house with an emphasis on popular genres of comedy and horror.
Last year, the podcast platform raised an undisclosed amount from a host of investors, including Alpha JWC and Kinesys Group, as well as Kopi Kenangan co-founder and CEO Edward Tirtanata.
CEO Ardian and chief business officer Niken Sasmaya, also a former Google executive, joined Noice in August as part of Noice’s efforts to take on Spotify in the country, sources earlier told DealStreetAsia.
According to a study conducted by Spotify in June 2020, over 20% of Indonesian users listen to podcasts monthly. Indonesia saw a 149% increase from June 2019 to June 2020 in the number of users on Spotify. It also saw a 220% increase in music streaming on Spotify across Southeast Asia in the same period.