MUSIKKI SECURES FUNDING FROM SMART EQUITY

 

Musikki, the living music platform that brings together all the world’s musical knowledge, content and services, is delighted to announce it has successfully closed its second round of funding securing Euro 330,000 from Smart Equity, a privately owned business angel investment vehicle. 

 

Dubbed ‘the IMDB of music’, but with content aggregated in real-time, Musikki is based on a proprietary music relational algorithm that matches every piece of music data, content and information to the right artist, album or song. This algorithm makes it possible to search different APIs simultaneously, and automatically aggregate all the information in one unique page result. The data is retrieved from different locations across the Web, structured and presented to the user in one single page dynamic layout rather than links to a variety of sources.

 

Musikki aims to be the number one source of music information and discovery for consumers, while powering music services with their unparalleled and growing data. The company is in advanced discussions with a number of major music businesses and will shortly be announcing new partnerships. 

 

Musikki has thus far been bootstrapped with initial funding secured by winning the Building Global Innovators Venture Competition co-organised by the MIT, which provided the music-tech startup with Euro 200,000 in non-diluted funding. The company has also secured a seed round of Euro 150,000 from Intercapital, an investment firm focused on early-stage ventures, a National Strategic Reference Framework research and development grant of Euro 87,000, as well as winning the Portuguese National Award for the Creative Industries of Euro 25,000.

 

Musikki is currently available as a web version and a newly launched mobile app for the iPhone, with new products and service enhancements in the pipeline. 

 

Gonçalo Araújo Fernandes of Smart Equity says: “We are very excited to support Musikki in its continued growth and expansion in the European, North American and Brazilian markets. Musikki sits at a strategically interesting intersection of the market, with the ability to address both the consumer and business markets, as users of the consumer platform will be curating and improving the music data which will continue to feed and improve the business service.”

 

Joao Afonso, co-founder and CEO of Musikki, comments: “We are delighted to have received this funding from Smart Equity, as we fundamentally believe that the same technological breakthroughs that are forcing the redefinition of the music industry’s business models can be used to sustain it. The music fan has shifted from a position of passive consumer to an active position in the industry’s value chain. Musikki’s proprietary services will empower users to convey music information and recommendation, making it easier to launch the stars of tomorrow. The calibre of our investors is a major stamp of approval of the Musikki concept and strategy.”

 

Musikki is based in London, with a developing office in Porto, Portugal. 

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