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June 4, 2019 | Music Business
Stockholm-based Tracklib, the world’s first record store with songs for sampling, raised $1.7 million to act on its ambitious plan to expand its user base and recording catalog.
The round was joined by Sony Innovation Fund; WndrCo; and Jörg Mohaupt, a private, early-stage investor who has invested in several other music companies including Discogs and Amuse.
The funding round is in preparation for a Series A funding later this year.
Tracklib will use this funding to continue expanding the user base and music catalog of its pioneering service – affordable, instant sample licensing – to bring more great music to more music producers and artists.
Offering a large and diverse catalog of licensed original recordings, including unique stems and multitracks, the groundbreaking service is already used and supported by some of the world’s most prominent music producers and artists.
Hundreds of songs with Tracklib samples have been released, including J.Cole’s latest double-platinum single MIDDLE CHILD and DJ Khaled’s chart-topping HOLY MOUNTAIN.
“This recent investment demonstrates the belief forward-looking investors have in our solution to one of the most complicated challenges in the music business: how to make sampling accessible, legal and affordable to producers and artists in all stages of their careers,” said Tracklib CEO Pär Almqvist.
“We create a new and essential infrastructure in the global music industry, enabling completely new revenues and creative opportunities.”
“We are happy to join Tracklib to support its innovative product and growth plans,” said Gen Tsuchikawa, Chief Investment Officer of Sony Innovation Fund, the venture capital arm of Japan’s Sony Corporation.
“Sony Innovation Fund is proud to invest in such early-stage and emerging growth companies to help them develop and scale their technologies.”
May 8, 2019
Whether you’re getting signed to a major record label or independent record label, breaking a new artist can be a costly business. Unless you’re an independent artist who has already established a solid fanbase and you’re partnering up with a […]
April 23, 2019
DotMusic Limited (www.music.us) announces that their global music community application for the .MUSIC registry prevailed. ICANN will award DotMusic the rights to the .MUSIC top-level domain name extension and move to contracting soon. Other applicants for .MUSIC included global companies, […]
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Sweden’s Music Sampling Startup Tracklib Raises $1.7M from Sony and WndrCo
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