Mohtwize raises $250K in Pre-Series A funding round
Mohtwize, a platform that takes care of writing content, recording, and audio editing for Arabic podcasts to facilitate their podcast growth with high-quality content, has successfully raised 1M SAR (US $250K) in Pre-Series A funding. The round had participation from a group of angel investors, Hawsabah Tech Company, and Ithraa capital with their strategic partner in fund management (Squad Partners).
Mohtwize's previous funding insights:
Dec 2019 - $105K, SEED, Falak Business Hub
• Mohtwize offers podcast production at all levels for individuals, companies, and governmental entities.
• The Mohtwize team have produced more than 60 podcasts and more than 400 episodes, which has led them to be the biggest podcast producer in the Middle East
• The round aims to support Mohtwize to increase and diversify its Arabic Podcast Production, support podcast creators, and ensure the sustainability of Mohtwize as the biggest producer of podcasts in the Middle East.
Khalid Alkenaa, CEO of Mohtwize, said: "Mohtwize is now the biggest producer of podcasts in the Middle East, but that's not enough for our ambitious team. We're aiming to empower every podcast creator in the region".
Read the full press release below.
Mohtwize has closed its third investment round with 1M SAR (US $250K) in Pre-Series A funding, from a group of angel investors in media, marketing, investments, Hawsabah Tech Company, and Ithraa capital with their strategic partner in fund management (Squad Partners). This round aims to support Mohtwize to increase and diversify its Arabic Podcast Production, support podcast creators, and ensure the sustainability of Mohtwize as the biggest producer of podcasts in the Middle East.
Mohtwize offers podcast production at all levels for individuals, companies, and governmental entities. The Mohtwize team have produced more than 60 podcasts and more than 400 episodes, which has led them to be the biggest podcast producer in the Middle East. It also owns a network of podcasts with a group of content creators, which includes 30 podcasts with the best quality and variety to suit the Arabic listener. Additionally, Mohtwize allows companies to advertise through the different podcasts it produces by placing advertisements in the episodes.
Khalid Alkenaa, CEO of Mohtwize, said: "Mohtwize is now the biggest producer of podcasts in the Middle East, but that's not enough for our ambitious team. We're aiming to empower every podcast creator in the region".
Beginning in 2017, the Arabic and global podcast market experienced tremendous growth, acquisition for international podcast companies, and investment in podcast companies. There was also a huge podcast listening growth in the Middle East that led companies to be interested in using podcasts as a marketing tool. It also led to an increase in the podcast creators' numbers in Saudi Arabia and the Middle East.
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Despite a rocky first half of the year, Saudi Arabia’s startup funding increased by 102% from H1 2019 to H1 2020, with H1 2020 already surpassing full-year 2019 by the amount of funding. Discover more data by downloading our FREE H1 2020 Saudi Arabia Venture Capital Snapshot.
هذا التقرير متوفّر أيضاً باللغة العربية على الرابط التالي: تقرير الاستثمار الجريء في المملكة العربية السعودية في النصف الأول من عام ٢٠٢٠