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Beatoven.ai raises $1 million from Entrepreneur First and Redstart Labs

The funding will help Beatoven.ai scale its business and will provide opportunities to over 2000 independent artists across the world

Beatoven.ai raises $1 million from Entrepreneur First and Redstart Labs
The company is targeting 10,000 + users by end of 2022

Music tech start-up Beatoven.ai has raised a million dollars as part of its seed round. The funds have been raised through Redstart Labs, a subsidiary of Info Edge and UK-based Entrepreneur First. Beatoven.ai is one of the only AI-driven music tech platforms with a large variety of tunes and jingles that aids content creators and producers with soundtracks that are original, licensable, royalty-free and cost-efficient.

The funding will help Beatoven.ai scale its business and will provide opportunities to over 2000 independent artists across the world, Mansoor Rahimat Khan, founder and CEO, Beatoven.ai, said. “The interface has been built to help content creators, production houses, digital marketing firms, advertising agencies with AI-driven, user-friendly, mood-based tunes and jingles for easy access to royalty-free music. With this funding we will be able to imbibe various cultures of the music world into one system, which will help us acquire more than 10,000 users by the end of 2022,” he added.

The funds raised will categorically be used in three ways. The first focus would be to build a team and onboard some of the brightest talents worldwide in the music technology space. The second objective would be to collaborate with global artists and acquire music so that the platforms’ algorithms will constantly be fed with high-quality music data. The third aim would be product development for building the AI composition and production algorithms. “The funds raised will help us create a highly customisable AI-assisted tool which understands each user’s preferences and enables them to create the soundtrack they have in mind. The recently raised funds will be utilised to help us patent our AI interface and our product algorithms. We are also building a huge library of training samples and composition elements through our artist partnerships,” Siddharth Bhardwaj, CTO, Beatoven.ai,” highlighted.

For Vivek Kumar, funding manager, Entrepreneur First, Beatoven.ai will revolutionise how music will be created, composed, and consumed. There is a distinctive gap in the music tech space where the dynamic-duo are building a bridge for musicians, artists and composers. “As the move to Web3 gains more momentum, the creator economy shall continue to grow rapidly and so would the market for creator tools. Music industry has always been at the forefront of digital innovation and we believe that AI powered music creator tools like Beatoven.ai nicely intersect the emerging trends in this industry and can assist millions of creators in building high-quality, engaging content,” Amit Behl, partner, Info Edge Ventures, stated.

Beatoven.ai intends to build a collaborative environment for musicians and AI to co-exist and create monetization opportunities for music producers, session musicians and instrumentalists.

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