Mykoon, the South Korea-based owner of online radio platform Spoon Radio, has secured $17m in series B funding from investors including a subsidiary of telecommunications firm SoftBank, TechCrunch has reported.
SoftBank Ventures Korea participated in the round together with venture capital and private equity firm KB Investment and VC firm Goodwater Capital.
Spoon is an interactive radio platform and social network where users can tune into music or spoken word shows and leave feedback in real time. They also have the ability to broadcast their own shows and can receive monetised rewards from listeners.
The product was built from the ashes of Mykoon’s failed earlier venture, a smartphone battery-sharing service called Plugger, and it has been downloaded more than 2.5 million times according to the company.
Mykoon’s earlier investors include IDG Ventures Korea, a member of VC group IDG Capital, as well as VC firm and accelerator 500 Startups and VC fund BonAngels Venture Partners
The series B funds will support international growth, beginning with Southeast Asia and then the rest of the continent.