$13.5 Million Series B Was Raised By CastBox To Hike Its Cross-Platform Podcast App StartupsMusic and video are becoming quite popular in the modern world of media streaming. Podcast startups have taken advantage of this powerful movement and dreaming up innovative new characteristics that give a greater listening capability.One of the such app developer is CastBox. This application is a multi-platform podcast application that can be used on Amazon Alexa, iPhone, Android and the internet. The app is unique from other applications. It provides in-audio search component, including recommendations that are curated, and a vast lineup of content that is original, that the company calls CastBox Originals.CastBox made an announcement that it closed a $13.5 million Series B round guided by SIG China.
Other former investors who participated in this venture were GSR Ventures, IDG Capital, and Qiming Venture Partners.The company, according to the data at Crunchbase, has gotten $16.1 million in partnership funding through three rounds. This new money will increase CastBox’s total funds raised to $29.6 million. According to a statement from CastBox, the added funds will be used to continue to develop its patented technologies. This incorporates the in-audio functionality mentioned above. It indexes and reproduces words that are spoken in audio. This allows users to search for keywords and subjects inside the audio.
According to the Chief Executive Officer (CEO) of CastBox, podcasting is growing at an enormous pace, even though it is in its infancy. She continues by stating that the cutting-edge injection of funds will afford them the opportunity to continue advancing integrating to their merchandise throughout all areas from smart homes, to auto and mobile, providing entertainment to their listeners, with current new content from CastBox Originals.The first innovative series was launched by CastBox last month. They partnered with IndyCar, a racing sanctioning part of the Indy car racing company to launch a show, showcasing Indy auto drivers Alexander Rossi and James Hinchcliff, known as “Off Track With Hinch And Rossi.”The original programming of CastBox can be obtained through the CastBox application and disbursed through diverse podcast-streaming media such as Overcast, Spotify and Apple Podcasts.