(Yicai Global) Oct. 24 -- CastBox, an audio aggregation and release platform operated by Kelu Beijing Network Technology Co., has completed A-round financing worth CNY84.9 million (USD12.8 million), led by IDG capital and Qiming Venture Partners with support from SIG Asia Investments, GSR Ventures and ZhenFund, the company said in a press briefing yesterday.

CastBox will use the proceeds to expand to the US audio market, and will push the development of audio technology and look to provide a better service platform.

"The latest round of financing will be combined with our internal audio search technology so we can to continue our journey toward becoming an audio version of YouTube," said CastBox founder Wang Xiaoyu.

The latest round of financing will help CastBox expand internally, and do business directly with podcast content publishers. The firm will also explore additional revenue channels, including subscriptions for content and features.

CastBox features more than 50 million pieces of audio content with about seven million registered users globally.

The firm's mobile app specializes in providing audio and podcast services to overseas markets, such as the US, Europe, Japan and South Korea.