According to VenturesBurn, iono.fm, a South African podcast and audio streaming services has just received $175,000 (R2.5 million) in a funding round led by Clifftop Colony.
Iono.fm is a South African platform that hosts podcasts for individuals and large radio stations. The platform offers radio streaming services and also fields advertisements on the podcasts hosted on the site. Some of their clients include TechCentral, BBC, Deutsche Welle and TED as clients.
Regarding the investment, the founder of iono.fm, Ryan Dingley said, “With a local and international presence of the Angels and Clifftop Colony itself, the consortium of investors are ideal partners for us as we continue to scale our business both domestically and globally.”
Clifftop Colony is a corporate finance, investment advisory and operational financial management firm focused on growth companies in sub-Saharan Africa. The company’s headquarters is in Cape Town, and they have representatives in the United States, the United Kingdom and Switzerland.
Speaking about the investment, CEO of Clifftop Colony, Oliver Drews said, “We have tracked iono.fm’s progress over the past four years and are deeply impressed with the team’s resilience, commitment and the world-class technology they have built. We look forward to the partnership with Ryan and his team and hope that we can contribute to building this business in the years to come.”
The funding received from the investors will go towards strengthening the platform’s domestic operations and further investment in its streaming services.
