Audio OTT Platform Headfone raises $10 mn in Series B Funding

On Tuesday, the audio OTT platform Headfone informed that in its Series B fundraising round it has raised $10 million. This funding round was led by Elevation Capital. It also witnessed participation from Hashed, who is already an existing investor. It also witnessed participation from prominent angels such as Ajit Mohan (Founding CEO, Hotstar), Biswa Kalyan Rath (Entertainer), and Anshumani Ruddra (Group PM, Google). Headfone is founded by Pratham Khandelwal and Yogesh Sharma in the year 2018. The founders were earlier working with Social Media Giant, Facebook as Software engineers.

After the successful completion of the Series B round, Pratham Khandelwal, CEO, Headfone said, “Unlike video or text, audio enables asynchronous and screen-free content consumption which allows listeners to consume the audio content throughout the day. Also, the popular fiction genres like horror, fantasy, and thriller are really expensive to create and difficult to get right in video format whereas the same genres can be quickly produced in audio drama format, and still give an immersive and imaginative experience to listeners.” The company informed that the raised capital will be utilized to diversify content offerings across languages and for the expansion of its services across different genres.