(L-R) OnMic co-founders Lam Kim, Trung Nguyen, and Khanh Nguyen
OnMic, a voice-chatting and streaming platform targeting the young population in Vietnam, has secured an undisclosed amount of seed funding from Vietnam-focused VC firm Touchstone Partners.
OnMic was established in June 2021 by Lam Kim (CTO), Khanh Nguyen (CEO), and Trung Nguyen (CGO). It is an audio content platform that provides voice-streaming chat rooms featuring no visuals and only minimal text.
The app also allows live interaction between speakers and audiences to discuss topics spanning spirituality, travel, job counselling, financial advice, and dating.
A Clubhouse-like app, OnMic builds a unique community bonding experience that does not rely on celebrities. “Rather, it is through the very arts of sharing authentically the ups and downs of life, love, careers and struggles, especially throughout the pandemic among Gen-Z in Vietnam,” the firm said in a statement.
Solely concentrating on community-specific audio content, the startup claims to have accumulated over 11 million live minutes and over 20,000 programmes since its inception.
Also read: The news wars: Will tech giants soon be coughing up big bucks for media content?
It boasts a 100 per cent organic growth driven by micro-KOLs and their networks.
“OnMic has seen a new generation of audio-based content creators since its launch. So it initiated creator-first programmes to help them flourish simply on the merit and quality of their ideas, without any need for visuals or content editing skills,” said CEO Nguyen.
With a population of more than 90 million, coupled with the smartphone penetration rate being in the top 10 globally, Vietnam is one of the fastest-growing markets for digital mobile-first content. Other local players, such as Vietcetera and Fonos, are also developing audio content for the young generation.
Based on eMarketer 2019 data on digital audio listenership and voice assistant usage, the digital audio listener base exceeds 300 million across countries, including Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam. As a result, the audio content market in the region has significantly picked up pace in recent years. Not only prominent players such as Spotify and Apple Podcasts, but even startups like Clubhouse, are giving local businesses a run for their money.
—
Ready to meet new startups to invest in? We have more than hundreds of startups ready to connect with potential investors on our platform. Create or claim your Investor profile today and turn on e27 Connect to receive requests and fundraising information from them.
Image Credit: OnMic
The post OnMic, Vietnam’s answer to Clubhouse, scores seed funding from Touchstone Partners appeared first on e27.