Podcastle, a company developing podcast creation tools for amateur and professional podcasters and a streaming platform for listeners, today announced their $1.75 million seed funding. The four-month old company said the new capital will help it roll out its new podcast creation features that it says will make the creation and publishing of audio content “more accessible and fun.” It relies on text-to-speech technology that uses artificial intelligence to convert news into podcasts in seconds.
The funding round was led by Sierra Ventures, with participation from Andrew Ng's AI Fund and Correlation VC. The investment brings the total amount raised by Podcastle to $2 million.
“We raised this round to invest in developing a new podcast creation and discovery platform that will empower everyone to have their voice heard without barriers and redefine how podcasting is perceived today. Our investors are a perfect match with Podcastle's DNA, and we are looking forward to partnering with them," said Podcastle founder Artavazd Yeritsvan in the announcement.
Initially starting as a browser extension that uses AI to narrate articles with natural-sounding speech, Podcastle has plans to grow its offering to support the full lifecycle of podcast creation and consumption. The extension will eventually play a small role in its larger platform. Podcastle says its text-to-speech and transcribing technology continue to be product features.
"With its AI tech, strong product vision, fast execution, and demonstrated dedication to user success, we believe that Podcastle is strongly positioned to serve the growing podcasting market and its needs," said Ben Yu, Managing Partner at Sierra Ventures, in a statement.