Companies

Beatoven.ai raises $ 1 million seed round

BL Bengaluru Bureau | Updated on: Mar 02, 2022

AI-driven start-up offers soundtracks that are original, licensable and royalty-free

Beatoven.ai, an AI-driven music tech start-up, has raised $1 million as part of its seed round from Redstart Labs, a subsidiary of Info Edge and UK-based Entrepreneur First.

Beatoven.ai offers soundtracks that are original, licensable and royalty-free. The funds raised will be used to build a team and onboard talent in the music technology space, collaborate with global artists and acquire music so that the platforms’ algorithm will constantly be fed with high-quality music data, and product development for building the AI composition and production algorithms.

Mansoor Rahimat Khan, Founder and CEO, Beatoven.ai, said, “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, and 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, said, “ 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. Beatoven.ai has been built to streamline solutions for music composition, music production, background sound effects and songwriting. 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.”

Amit Behl, Partner, Info Edge Ventures, said, “As the move to Web 3 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.” 

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

Published on March 02, 2022

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