The company estimates that it will reach over 150,000 users by the end of the year
Voxa, the first Romanian streaming platform for audiobooks and e-books, targets a new round of financing of 1 million euros for the current year. The tech start-up reached a market capitalization of 6 million euros, compared to the value of 3.9 million euros in November last year, when the company was founded.
With the new funding, Voxa wants to consolidate its position in Romania and produce another 1,000 audiobooks. The platform also aims to expand abroad, a plan that it has already begun. Voxa will enter the Republic of Moldova market in the second quarter of the year, where it aims to become the number one digital book platform. At the same time, Voxa plans to integrate into its platform a catalog of books in a new language in addition to Romanian and English, and in 2023 the start-up will enter a new market in the region.
The streaming platform is also working to integrate its application into the benefit packages offered by companies to employees. The start-up aims to reach over 100 large companies by the end of the year, and the corporate segment to represent 30% of the business by the end of this year.
“Last year, when we got the first round of funding through SeedBlink, we promised to build the Voxa streaming platform, to attract major publishers in Romania, to produce over 500 audiobooks, and reach 1000 subscribers. In just 6 months all our plans have materialized. We are eager to continue writing the Voxa story and to bring our favorite content closer to book lovers!”, said Cătălin Meșter, CEO of Voxa.
The Romanian start-up Voxa was officially launched in November 2021, after it managed to attract a round of finance amounting to 540,000 euros at the end of summer 2021 through SeedBlink.
Voxa is turning its attention to investment funds to further support its projects. The Romanian start-up estimates that recurring monthly revenues will reach 100,000 euros in the fourth quarter of this year. In addition, the company expects the number of users to exceed 150,000 by the end of the year.
“Attracting funding for entrepreneurs is generally a real challenge. We analyze several options, in terms of investment funds and crowdfunding platforms. Our business model is innovative, being at the intersection of tech and culture, which is an asset. The technology, which is the basis of our platform, offers us an advantage over other start-ups, being one of the main areas that attract the attention of investors “, said Cătălin Meșter.
Voxa users are predominantly in the 25-45 age group, technology, and book lovers. The platform makes available to users tens of thousands of books in e-book and audiobook format in Romanian and English, with unlimited access, but also book summaries. Five months after its launch, Voxa has reached over 50,000 users, 15,000 audiobooks and e-books, and 35 partner publishers.
The price for a standard Voxa subscription, which includes unlimited access, is 48 lei. The application can be tested for free for a week.
VOXA is a Romanian streaming start-up for audiobooks and e-books, with content in Romanian and English. The company aims to create a global product, 100% made in Romania, to compete on an equal footing with the largest global players in the industry.
Officially launched in November 2021, Voxa groups thousands of titles in Romanian, facilitates access to information, and is available to users anywhere, anytime. Voxa can be downloaded by any user from Google Play and the AppStore.