“Voxa is expanding and our results so far give us the confidence to go abroad. We are optimistically stepping into the market of the Republic of Moldova, where we are ready to transform the book industry by bringing books closer to the readers with the help of technology. By the end of the year, we estimate that almost 10% of the total number of our users will be from the Republic of Moldova. Also, we are targeting a new funding round, of up to EUR800,000, to continue our development and investment plans”, said Dan Vidrașcu, CEO of Voxa.
Voxa app came on the market to cover a real need for audiobooks and ebooks in Romania for the general public. Thus, only seven months after its launch, Voxa has almost 80,000 users to whom it offers a catalogue of over 10,000 audiobooks and ebooks from 30 partner publishers. The success of the application is obvious, if we consider only the consumption of audiobooks that have accumulated so far over 700,000 hours of listening.
“Voxa’s first funding round on SeedBlink was dedicated to launching the application, creating content and early market adoption. We are pleased to present to investors Voxa’s plans for international expansion and to offer them the opportunity to be part of their story”, said Laurențiu Ghenciu, Chief Business Officer at SeedBlink.
In the second quarter of 2022, the company tripled the number of subscribers compared to the same period of 2022. At the same time, Voxa expects to reach more than 250,000 users by the end of 2022.
The value of the Romanian book market amounted to EUR100 million in 2021, of which digital book sales account for less than 0.5%, while in Europe, digital books exceed 15% of the total.
The Romanian book market is expected to reach EUR120 million in Romania by 2024 and sales of books in digital format will account for at least 10%.