Beatoven.ai raises $1 mn Seed round from UK-based Entrepreneur First, Redstart Labs

Beatoven.ai, AI-driven, disruptive music tech startup providing a platform for content creators to help them create royalty-free, affordable, easy to license and original music, has raised $1 million as part of it’s Seed round.

The funds have been raised through Redstart Labs, a subsidiary of Info Edge and UK-based Entrepreneur First.

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' algorithm will constantly be fed with high-quality music data. The third aim would be product development for building the AI composition and production algorithms.

Mansoor Rahimat Khan, Founder and CEO, Beatoven.ai, says, "The funding will help us scale our business and will provide opportunities to over 2,000 independent artists across the world. 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, making it a perfect amalgamation of western, traditional, classical and indigenous music merged into today's Tech-driven digital revolution which will help us acquire more than 10,000 users by the end of 2022.”

Siddharth Bhardwaj, CTO, Beatoven.ai, adds, "The funds raised will help us create a highly customizable AI-assisted tool which understands each user's preferences and enables them to create the soundtrack they have in mind. Beatoven.ai has been built to streamline solutions for music composition, music production, background sound effects and songwriting. The recently raised funds will be utilized 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.”

Vivek Kumar, Funding Manager, Entrepreneur First, who was also part of the company’s previous funding round said, “There is a distinctive gap in the music tech space where theduo are building a bridge for musicians, artists and composers. We see a rise of AI applications in music and we are looking forward to being a part of their exciting journey.”

Amit Behl, Partner, Info Edge Ventures said, "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."

The algorithm and compositions built especially for the platform will be patented by the founders Mansoor and Siddharth. Khan is a distinguished sitar player who hails from the Dharwad Gharana of music and Siddharth Bhardwaj has years of experience in technology and sound design. Both are alumnis of Georgia Tech Center for Music Technology, Atlanta and Music Technology Group at UPF, Barcelona and are undergrads from NIT and IIIT.

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.

Published on: Wednesday, March 02, 2022, 06:42 PM IST