Audoo, a London, UK-based music technology company, raised $5M in funding.
The round, which brought the total amount to $22M, saw participation from Elton John, David Furnish, MPL Ventures and ABBA’s Bjorn Ulvaeus, Tileyard and Edinv.
The company intends to use the funds to expand operations and its business reach globally.
Founded in 2018 by Ryan Edwards, Audoo aims to solve the public performance royalty data collection and payment distribution issue via its Audoo Audio Meter™ and insights platform that make it easy for everyone in the data chain to recognise in quasi real-time where and when music is played, in detail, and how it should be paid. Audoo’s devices are being rolled out across Europe, Australasia & Africa through partnerships with the likes of PRS for Music and PPL, to track and report every song played in public performance locations like cafes, bars, hair salons, restaurants, gyms and retail locations with world-leading accuracy. The Audio Meters™ are now in more than ten countries across four continents.
Audoo is an alumnus of the Abbey Road Red incubator.
FinSMEs
10/10/2023