Anghami secures USD 55 mn in a funding round from OSN

Abu Dhabi-based music streaming platform Anghami secured up to USD 55 mn in a new funding round from OSN Group, starting with an initial USD 12 mn through a convertible note program, according to a press release.

Where will the money go? The new funding will allow Anghami to expand its content library, upgrade its technology, and strengthen its presence in the region. It also aims to introduce more AI-driven personalization and next-generation streaming technologies.

Refresher: Dubai-based TV satellite and streaming company OSN+ acquired a 55.45% stake in Anghami in April, making it a majority shareholder in the Nasdaq-listed firm.