Voxa reached a market capitalization of EUR6 million, compared to EUR3.9 million in November 2021, 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 startup 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 2022.
“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 six 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 Catalin Mester, CEO of Voxa.
Voxa was officially launched in November 2021 after it managed to attract a funding round of EUR540,000 at the end of summer 2021 through SeedBlink.
Voxa is turning its attention to investment funds to further support its projects. The company expects its monthly recurring revenue to reach EUR100,000 in the fourth quarter of 2022, and the number of users to exceed 150,000 by the end of 2022.
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.