Osborne Clarke in Sweden has advised Highland Europe on its co-lead investment in Danish open podcast platform company Podimo’s $78 million funding round, one of the largest rounds for an audio tech company in Europe this year and the largest B round ever in Denmark. The new capital will be used to enter new markets, create more original content and increase payments to creators.
Podimo is a Copenhagen-based podcast and audio entertainment subscription service that offers a mix of RSS- feed content, curated podcasts, audiobooks and its own productions. It has produced more than 950 original podcasts and audiobooks and has partnerships deals with some of the biggest content producers and authors in the world. In a short time Podimo has become the European market leader for subscription short-form audio in local languages and translates international content to local markets’ native languages.
The funding round was as led by London based 83North and Highland Europe, with participation from existing investors Chr. Augustinus, Heartcore, Saban Ventures, Headline, and Possible Ventures. Highland Europe is a growth-stage technology fund that invests in European scale-ups.
Osborne Clarke has a market-leading international venture capital practice and this deal demonstrates the Swedish office's capability of executing deals across the Nordics. Osborne Clarke is a go-to practice for companies doing business in the Tech, Media and Comms sector and works closely with leading global businesses, venture capital funds, fast-growth start-ups and market challengers, advising at every stage of company development across all corporate areas, from equity and debt fundraising to private M&A and JVs.