A Kyiv-based venture fund, Genesis Investments, has injected $150,000 million in podcast visualization startup Elision. The details of the deal, which was reported by AIN.UA, have not been disclosed.
Founded in November 2019, Elision has developed an “intuitive podcasting platform” which allows listeners and podcasters to enhance their podcasting experience, adding visualization through RichAudio.
In its beta version, the platform offers more than 900,000 podcasts converted to Rich Audio. Elision already claims over 1,500 downloads and expects to reach the 5,000 mark soon.
Launch on the US market is imminent, reports AIN.UA. Podcasts will be available free of charge with advertising or for $7 a month with an ad-free subscription.
Noting that “podcasting is one of the fastest-growing segments in media,” Genesis Investments CEO Vitaliy Laptenok sees in Elision “one of the [future] world leaders on this market.”
Genesis Investments touts itself as having “an extensive experience in creating successful international startups.” Among them is Jiji, an African online marketplace which recently acquired Naspers’ activities in Kenya, Ghana, Uganda and Tanzania.
In December 2019, the fund put $1 million in IntellectoKids, a Russian-founded edtech startup.