Hashed (CEO Seo-jun Kim), a blockchain-specialized investment company, announced that it has executed the investment by leading the Series A round of Disacustic Labs, which services’Headfone’, an Indian social radio platform.
Overseas investors such as Axlior Ventures and Fosun RZ Capital participated in this investment round, along with Hashed, a lead investor. In this round, Dis Acoustic Labs has raised a total of 2.3 million dollars (about 2.5 billion won).
Headphones is an Indian social radio service founded in 2017 by former Facebook developers Pratham Khandelwal and Yogesh Sharma. Users can listen to various audio contents in more than 10 fields, such as movies, music, politics, and business, through headphones, and can directly create and share audio contents (UGC). Headphones is India’s only UGC social radio platform, with more than 5 million downloads, and about 100,000 users creating audio content. Description.
Currently, the Indian mobile market is growing rapidly. With 87% of the total population using mobile communication networks and 4G communication infrastructures are complete throughout, the use of mobile data is becoming very active. In addition, according to PWC, a global accounting consulting firm, the average monthly users of podcasts in India will grow by 35% per year, reaching 170 million by 2020. Based on the potential of the Indian mobile audio market, the headphone service is also expected to grow more rapidly.
“This investment will be actively used to expand the original contents of headphones,” said Pratham Cantelwal, the founder of headphones. I’m happy to learn more.”
Hashed CEO Seo-joon Kim said, “I am looking forward to seeing how fast headphones made by outstanding founders who have learned the success equation of Silicon Valley will show rapid growth in the fastest growing Indian market in the world.” He said, “We want to help the company grow faster through the integration of blockchain, such as audio content IP management using chains.”