Delhi-based B2C vernacular podcast aggregator platform Funcastic has raised seed funding from a startup accelerator launched by HT Media Ltd and US-based investment firm North Base Media, two persons aware of the development told TechCircle.
The firm aims to use the funds for technology development and product marketing, said one of the people, who spoke on the condition of anonymity.
The investment was made through Mediahack.in, a digital media accelerator programme launched last year by HT Media unit HT Digital Media Holdings Ltd and North Base Media.
The investment amount could not be ascertained but Mediahack.in aims to put in around $50,000-100,000 in each startup, HT Media and North Base said last year. Mediahack.in aims to support entrepreneurs who want to build innovative content and advertising-related technology businesses in India.
In December last year, content aggregator app Planet GoGo had raised seed investment from HT Digital and North Base Media.
Funcastic, operated by Buzzee Technologies Pvt. Ltd, was founded in 2015 by Vivekraj Shah and Surpreet Singh. The startup claims to be India's first branded mobile podcast aggregator and allows users to listen to the content of their choice via the app.
Shah and Singh are management graduates from Cardiff Metropolitan University. Before launching Funcastic, Shah co-founded digital social media agency Webitude while Singh co-founded gaming events platform Gamers Association and Imaginations.
Email queries to HT Media, North base Media and Funcastic did not elicit any response by the time of writing this report.
Funcastic offers users multiple options to choose in the app, from news analysis to health and lifestyle, entertainment and spiritual content among others. It also has an offline model where users can download the podcast and listen to it later. Podcasts can also be streamed over a 2G network. The app has recorded about 7,000 downloads on the Google Play store.
Its publishers include news website Livemint.com, news agencies United News of India and ANI, and The Pioneer and The Indian Express newspapers.
Like this report? Sign up for our daily newsletter to get our top reports.