Beatoven.AI Raises $1 Million From UK-based Entrepreneur First and Redstart Labs
Funds will be utilized to build a team, collaborate with global artists and acquire music and develop the product for building the AI composition
AI-driven music tech startup, Beatoven.ai, announced on Tuesday to have raised $1 million in seed round funding. The funds have been raised through Redstart Labs, a subsidiary of Info Edge and UK-based Entrepreneur First. Funds will be utilized to build a team and onboard some of the brightest talents worldwide 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 develop the product for building the AI composition and production algorithms.
"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," says Mansoor Rahimat Khan, founder and CEO, Beatoven.ai.
"We know that Beatoven.ai will revolutionize 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. We see a rise of AI applications in music and we are looking forward to being a part of their exciting journey," says Vivek Kumar, funding manager, Entrepreneur First.
The algorithm and compositions built especially for the platform will be patented by the founders Mansoor and Siddharth. Mansoor Rahimat Khan is a distinguished sitar player who hails from the prestigious Dharwad Gharana of music and Siddharth Bhardwaj has years of experience in technology and sound design. Both are alumni of two universities Georgia Tech Center for Music Technology, Atlanta and Music Technology Group at UPF, Barcelona. 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.