Podcasting company Kaleidoscope is looking to produce more original shows and turn titles from its audio content library into Hollywood movies and TV series after raising $5 million in a Series A funding round.
The fundraising was led by Burda Principal Investments, a division of Hubert Burda Media, the German publisher, and North Base Media, the investment firm launched by former Washington Post editor Marcus Brauchli and Saša Vučinić, who started the Media Development Loan Fund.
Also adding to the cash injection for Kaleidoscope are prior investors like The Raine Group, former MTV leader Tom Freston and venture capital firm Nimble Ventures. Kaleidoscope has a focus on science and technology storytelling, with popular audio titles like ON Musk featuring Walter Isaacson.
The podcast maker was founded by Emmy-winning producer Oz Woloshyn and former iHeartMedia senior vp Mangesh Hattikudur. Proceeds from the cash infusion aim to help Kaleidoscope develop new tentpole shows as originals and mine its IP library for film and TV adaptations with Hollywood producers.
Upcoming content from Kaleidoscope includes collaborations with producer John Legend and actor, creator and entrepreneur Rob Mac.
“Kaleidoscope is building for an audience that’s educated, globally minded, and culturally engaged — with underserved demand to understand how their lives are being changed by rapid advances in science and tech,” Woloshyn said in a statement.
Hattikudur added the company would look to create compelling audio content around artificial intelligence, biotech and other new technologies increasingly impacting ordinary lives.
“We’re eager to tap into the richness of those stories and tell them the vibrancy they deserve. We know young audiences are hungry for this content, and they’re turning to podcasts as their primary source of news. And we’re excited to ply them with addictive content they’ll want to evangelize,” Hattikudur said in another statement.
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