Swedish-Founded Arabic Audiobook Startup Kitab Sawti Raises $6 Million
SOURCE: TECH EU
BY: ANDRII DEGELER
Stockholm-headquartered startup Kitab Sawti that has created what it claims to be the world’s largest Arabic audiobook library has landed $6 million in funding from Bonnier Ventures, Paltel Group, and Kaaf Investments, with participation from Northzone and Abdulla Elyas.
Founded in 2016 with the aim of supporting the integration of Syrian kids into Swedish society, Kitab Sawti currently has more than 1 million registered users. The startup has opened offices in Stockholm, Dubai, Cairo, and Palestine.
“We have witnessed growing consumption of our content over the past period, with more than 1 million registered users and a 20 percent month-on-month growth in paying users,” said Sebastian Bond, founder and CEO of Kitab Sawti. “The next 12 to 18 months will be very exciting for us as we deploy the funds to bolster the platform’s leading position in the Arabic audiobook industry, supporting more than 5,000 new jobs in the industry in the process.”
In the photo: the team of Kitab Sawti in Stockholm