Renew Capital invests in Ethiopian audiobook and podcast company
Renew Capital has recently invested in Teraki, an online audio platform based in Ethiopia, co-founded by Nahom Tsegaye and Abel Engida.
The platform amplifies Ethiopia’s rich tradition of storytelling by offering audiobooks and podcasts in various Ethiopian languages.
The founders started the project in 2019 with a small budget of $2,000, and by November of 2022, the platform had 38,000 users.
The investment by Renew Capital is expected to help Teraki expand its reach globally, especially among the diaspora.