NOICE, an Indonesian multi-vertical audio platform, said today that it has raised an undisclosed ‘7-figure USD’ in a pre-Series A investment co-led by Alpha JWC Ventures and Go-Ventures.
Kinesys Group, Kenangan Fund, and other unknown business angels participated in this round, according to a news release.
In addition, former Google Asia Pacific executives Rado Ardian and Niken Sasmaya have joined NOICE as CEO and Chief Business Officer, respectively.
NOICE will utilize the additional funds to improve the platform’s new live audio function, create original content, and employ talent from around the area to accommodate customers outside of Jakarta, according to CEO Ardian.
It also intends to boost in-app community involvement by expanding content distribution, setting up content creation and monetisation tools, and expanding content distribution.
Mahaka Media Group, which was founded by Erick Thohir, Indonesia’s minister of state-owned enterprises, owns and operates NOICE.
NOICE, a radio streaming network that launched in June 2018, provides local audio content to registered users across Indonesia, including radio, music, audiobooks, and podcasts.
NOICE distinguishes itself from worldwide competitor Spotify by offering hyperlocal in-house content.
“Our USP is our high-quality original content that is only available on NOICE with numerous talented content creators, ranging from imaginative first-timers to well-known celebrities,” said CBO Sasmaya. “These individuals realise their dreams by showcasing their artistic skills across a range of genres, such as comedy, music, religion, horror, parenting, lifestyle and edutainment.”
NOICE is “Indonesia’s largest podcast network,” according to the company, with 800,000 listeners and more than 100 original episodes.
NOICE will have streamed over one billion minutes of audio material by the third quarter of 2021, indicating significant levels of engagement and consumption on the platform.
“While digital content consumption has been growing in Indonesia, there is a significant gap in the audio content vertical, especially for hyper-local content. As more people are working, learning and being entertained at home, demand for quality content has increased exponentially,” said Aditya Kumar, SVP of Investments at Go-Ventures. “NOICE is well-positioned to address this unmet need, becoming Indonesia’s leading audio platform.”
NOICE claims to have seen a 144% increase in the number of users in the last year, despite the fact that it did it “without any big marketing spend.”
Alpha JWC Ventures and Kinesys Group invested in the business last year.
In Indonesia, the music streaming business has exploded in recent years. According to Nielsen research, more than 3.6 million Indonesians listened to podcasts in February 2020.
