The startup plans to use for a new tech-powered innovation that will allow for monetisation of old podcasts.
Podcast tech developer, Mohtwize, has raised $500,000 in seed funding in a round led by Wa’ed, an entrepreneurship arm of Aramco. Founded in 2018, the Saudi-based startup was created by podcaster Khalid Alkenaa to support podcast creators through training and sponsorship opportunities based on the same pain points he faced while creating content of his own. Mohtwize acts as a financial enabler for creators, providing podcasters with advertising income and enabling advertisers to connect with podcasts that can push their brand values to target audiences.
“Mohtwize is a smart way to monetize the podcast sector, and our platform is helping this sector grow and flourish in Saudi Arabia and the MENA region. We are grateful to Wa’ed for helping Mohtwize take this fast-growing medium to a new level of financial sustainability and success,” Alkenaa said of the recent investment.
Following the deal’s closure, Mohtwize plans to launch a tech solution that will let corporate sponsors place ads in archived podcasts. The new function will allow podcasters to monetize older podcasts that have already been released, and gives companies access to the full portfolios of over 100 podcast shows.