# OTOBANK

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/otobank

- Industry: Media
- Headquarters: Tokyo, Japan
- Website: www.otobank.co.jp
- Total disclosed funding: $2.1M
- Latest round: Series A (Nov 27, 2018)
- Investors on record: 5

## About

Based in Japan, OTOBANK Inc. specializes in providing innovative audio content solutions, focusing on the audiobooks market through its leading platform, audiobook.jp.Founded in 2004 and headquartered in Tokyo, Japan, OTOBANK Inc. is dedicated to the production and distribution of audio content, particularly audiobooks. The company has successfully raised JPY 246 million in its Series B funding round on March 31, 2023, led by investor NIPPON SHUPPAN HANBAI INC., totaling JPY 246 million raised to date. The firm has completed two significant funding deals.OTOBANK Inc. specializes in audio content solutions, primarily through its flagship platform, audiobook.jp, which is one of Japan's largest audiobook distribution services. The company's core offerings include the production and distribution of audiobooks, branded podcast creation, and various services aimed at enhancing auditory experiences, such as corporate audio services and library partnerships. Audiobook.jp allows users to access a diverse library of audiobooks, catering to a broad clientele that includes business professionals, seniors, and parents. Additionally, OTOBANK invests in initiatives to promote reading accessibility, such as projects targeting individuals with dyslexia. The company's services are primarily offered in Japan, where they have established a significant presence in the audiobook and audio content market.OTOBANK generates revenue through a subscription-based model for its audiobook service, audiobook.jp, which allows users to access a wide range of audiobooks for a monthly fee. The company also engages in B2B transactions by providing custom audio solutions, including branded podcast production and corporate audio services, to businesses and organizations. The revenue structure includes partnerships with libraries, schools, and corporations, facilitating the distribution of audiobooks and other audio content. This multifaceted approach ensures that OTOBANK serves both individual consumers and institutional clients, thus creating a robust financial ecosystem around its audio services. The transactions are structured to provide flexibility and value, enabling clients to choose from various service tiers tailored to their specific needs.In April 2023, OTOBANK Inc. raised JPY 246 million in Series B funding to further promote audiobooks as a viable means of enjoying reading. The company plans to utilize this funding to enhance its product offerings and expand its market presence. Specific upcoming initiatives include the launch of new audio content projects aimed at increasing user engagement and accessibility. OTOBANK aims to explore geographic expansion, particularly targeting markets beyond Japan, although specific regions have yet to be detailed.

## Funding rounds

- Series A, Nov 27, 2018, $2.1M — Voyage Ventures, Nippon Broadcasting System, Inc., TOKYO GAS Co., Ltd., Culture Entertainment Co.,Ltd., Frontier Works Inc.

## Investors

- Voyage Ventures (https://capitalatlas.ai/funds/voyage-ventures) — Series A
- Nippon Broadcasting System, Inc. — Series A
- TOKYO GAS Co., Ltd. — Series A
- Culture Entertainment Co.,Ltd. — Series A
- Frontier Works Inc. — Series A