Sounday, an Italian digital music startup, raised €2m in funding.
Principia Sgr made the investment.
The company is using the funds to expand operations. It also announced the acquisition (100%) of Kiver Digital, a distributor of digital content with over 150 labels, 6,000 artists and 45,000 songs and 50 channels. Following the deal, Kiver and Sounday will remain two separate entities.
Led by Giuseppe Ravello, founder and CEO, Sounday operates Sounday Music, which provides artists, labels and brands with web and mobile services to manage the entire music life cycle including networking, content creation and distribution, sales and acquisition of mixing and mastering services, as well as identity management.
The company, which currently partners with Deezer to promote the Italian tour of Imany, has 20 employees in Turin, Cagliari and (via Kiver Digital), in Milan and Tokyo, Japan.