[Funding Alert] Audio OTT Platform Headfone bags $10 Mn in Series B led by Elevation Capital

Funding

Headfone, an audio OTT platform, has raised $10 Mn in Series B funding led by Elevation Capital. The round also saw participation from Hashed, an existing investor, as well as prominent angels such as Ajit Mohan (Founding CEO, Hotstar), Biswa Kalyan Rath (Entertainer) and Anshumani Ruddra (Group PM, Google).

Founded in 2018 by former Facebook software engineers, Pratham Khandelwal and Yogesh Sharma, Headfone is an audio OTT platform that primarily offers audio dramas in fiction genres like horror, thriller, romance, etc.

Headfone onboards creators (writers, voice artists and sound engineers) and provide them with tools to create high-quality content. The resulting content is released as audio shows, with some of the top shows running into 100s of episodes.

This is done in a manner and cadence similar to TV shows, where a 10-15-minute-long episode is released daily, with each episode ending on a cliffhanger that hooks the listener into following the series.

Pratham Khandelwal, CEO of Headfone, said, “Unlike video or text, audio enables asynchronous & screen-free content consumption which allows listeners to consume the audio content throughout the day. Also, the popular fiction genres like horror, fantasy and thriller are really expensive to create and difficult to get right in video format whereas the same genres can be quickly produced in audio drama format, and still give an immersive and imaginative experience to listeners.”

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Yogesh Sharma, CTO of Headfone, said, “Audio Dramas, so far, have been created by bringing together multiple artists in the same physical studio, and this makes it a very expensive and time-consuming process. But what we have built is a decentralized online platform where multiple artists, namely writers, voice actors and sound engineers seamlessly collaborate to create audio dramas in a scalable, time-efficient and cost-effective manner.”

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