Vietnam’s audiobook and podcast platform Voiz FM has raised seed funding from 500 Startups Vietnam while Singapore-based startup accelerator Iterative announced eight startups for the first batch of its Summer 2020 cohort.
Vietnam’s Voiz FM raises seed round from 500 Startups
Vietnam’s audiobook and podcast platform Voiz FM has raised an undisclosed seed amount from 500 Startups Vietnam, according to a statement.
Launched in late 2019, Voiz FM aims to bring high-quality listening experience to Vietnam and Southeast Asia. Voiz FM has acquired exclusive publishing rights for more than 1,000 best-selling titles, partnering with top tier publishers in Vietnam including Kim Dong, Alphabooks, and Tre Publishers, among others.
The audiobook and podcast platform claims that it has seen a 2x growth in its user base in recent months, following a surge in demand as customers turn to audio media during coronavirus quarantine.
The company said it will spend the new funding on product development and market expansion.
According to Binh Tran, General Partner of 500 Startups Vietnam, the venture capitalist is bullish on the market opportunities as well as the team’s dedication to customers.
Most recently, 500 Startups has invested an undisclosed amount in Bizzi.vn, a Vietnam-based accounting automation tool.
Singapore’s accelerator Iterative announces first batch
Singapore-based startup accelerator Iterative has selected eight startups for its inaugural batch.
The 2020 summer cohort comprises six startups from Singapore, one each from Malaysia and the Philipines. They were chosen from among 200 startups across Southeast Asia. Each startup will receive $150,000 in exchange for a 15 per cent stake.
Iterative will also provide the startups with lessons on pitching and fundraising, as well as connect them to investors in Singapore and San Francisco. The programme, which starts on June 1, will culminate with a virtual demo day in August.