CastBox, a San Francisco, CA-based audio platform that allows users to listen to, create and share their favorite content, raised $16m in funding.
The round was led by Qiming Venture Partners and IDG Capital with participation from SIG China, GSR Ventures and ZhenFund.
The company intends to use the funds to continue to expand operations and continue to develop the platform.
Led by founder and CEO Xiaoyu Wang, CastBox is introducing spoken audio technology for the audio industry offering a completely new way to listen to spoken audio including podcasts, on-demand radio, and audiobooks. It uses Natural Language Processing (NLP) algorithm to transcribe spoken audio content, combined with machine learning to surface personalized results tailored to each user’s search and listening habits.
The app is available for iOS, Google Play and on Amazon Echo.