Belarus-based app that converts texts, files, pictures, or web pages into audiobooks, Peech has raised $550,000 to expand its international reach. The investment round was led by Flyer One Ventures and backed by Yury Mazanik, founder of Belka Games.
Founded in 2022 by Andrey Poznyak and Alex Gorbel, the app can turn any content into the audio format in a few clicks. Customers just need to scan a text page or a book, upload a text file or PDF or add any web article they want to listen to, and an AI-based application converts it to a handy audio format. Thus, users can listen to interesting articles while jogging, driving, or doing household activities, increasing the speed of consuming any text by several times. Peech AI also collects and voices the most useful articles from the best publishers.
Andrey Poznyak, co-founder of Peech said: “Knowledge is the main resource of our time, and projects that simplify the process of obtaining it will always be relevant. Due to the development of technology, the share of the use of audio interfaces is greatly increasing, and there is still a lot of potential here. At the moment the application is available in more than 60 languages, and we will improve the product to make it more convenient for the development of the audience.”
During the February-May period more than 11000 hours of unique content were voiced. The app is available in 50+ languages. Going forward, the startup wants to explore new markets, mainly the U.S. and Western Europe.
Vital Laptenok, general partner at Flyer One Ventures added: “The growth of audio content consumers has been on a constant upward trajectory for the past few years. In the U.S. alone, 73% of the population listens to online audio monthly, which is only increasing. The rise in demand for audiobooks, podcasts, and other audio formats indicates that audio will be more popular than reading. Therefore, we see huge potential in Peech's product and are happy to support the team in their efforts to develop a culture of consuming useful content in the audio format.”