Mumbai-based multimedia content firm Agrahyah Technologies Private Limited has raised $1 million (Rs 6.9 crores at current exchange rates) in a pre-Series A funding round from a clutch of undisclosed investors, the company said in a statement.
The company will use the capital raised for the growth and expansion of audio-on-demand product Awaaz.com. The company has also on-boarded Ashutosh Ghanekar of ANG Capital for support and guidance in corporate finance.
The funding round coincides with the company diversifying into English podcasts through an upcoming product branded HFTcafe.com, targeted at millennials.
Awaz.com, which claims to be the country’s first Hindi non-music, audio-on-demand platform, was launched in January 2019. The platform claims to have registered 200,000 listeners so far.
“The bets we placed two years ago to create original content in non- video formats such as podcasts, scripted audio shows, and longform reads in Indian languages are now yielding great results. Our strategy remains to create high quality original content in audio and text & use technology to deliver it seamlessly,” Sreeraman Thiagarajan, co-founder of Agrahyah Technologies said.
Founded in 2017 by Thiagarajan, Rushabh Vasa, and Uppal Shah, Agrahyah Technologies has in-house audio and text content creation capabilities with a team of 37 people based in Mumbai.
In June, the audio-on-demand platform Awaaz.com partnered Indus OS (formerly Firstouch) to avail its Hindi content available on the latter's app store called AppBazaar.