Hoopr raises ₹4 crore to boost smash & music licensing growth
The music industry has witnessed a significant transformation in recent years, with the rise of digital platforms and streaming services changing the way music is consumed and monetized. One company that has been at the forefront of this change is Hoopr, a music licensing startup that has been making waves in the industry with its innovative approach to music licensing. In a recent development, Hoopr has raised ₹4 crore in an extended pre-Series A round, valuing the company at ₹160 crore.
The funds raised will be utilized to expand Hoopr Smash, the company’s music licensing platform, enhance user experience, and strengthen its engineering, curation, and partnerships. With over 12,000 copyright-safe tracks, 300+ artists, and 30,000 creators onboard, Hoopr aims to scale its catalog, global reach, and transparent royalty ecosystem. The company’s goal is to provide a seamless and efficient music licensing experience for creators and artists, while also ensuring that they are fairly compensated for their work.
Hoopr’s music licensing platform, Hoopr Smash, is designed to provide creators with access to a vast library of high-quality, copyright-safe music. The platform uses AI-powered curation to help creators find the perfect track for their content, whether it’s a video, podcast, or social media post. With a user-friendly interface and a vast catalog of music, Hoopr Smash has become a go-to destination for creators looking for high-quality music that is both affordable and easy to license.
The company’s focus on transparency and fairness has also been a key factor in its success. Hoopr’s royalty ecosystem is designed to ensure that artists and creators are fairly compensated for their work, with a transparent and efficient payment system that eliminates the need for intermediaries. This approach has resonated with artists and creators, who are increasingly looking for platforms that prioritize fairness and transparency.
The raise of ₹4 crore is a significant milestone for Hoopr, and is a testament to the company’s growth and potential. The funds will be used to further expand the company’s music catalog, improve its technology and infrastructure, and strengthen its partnerships with artists, creators, and brands. With a strong team and a clear vision, Hoopr is well-positioned to continue its growth trajectory and become a leading player in the music licensing industry.
The music licensing industry is a rapidly evolving space, with new technologies and platforms emerging all the time. However, despite the growth of the industry, many creators and artists still struggle to find high-quality, affordable music that is easy to license. Hoopr is addressing this gap by providing a platform that is both user-friendly and affordable, with a vast catalog of music that is carefully curated to meet the needs of creators.
The company’s focus on community and collaboration has also been a key factor in its success. Hoopr has built a strong community of artists and creators, who are passionate about music and committed to supporting each other. The company’s social media channels and online forums are filled with discussions and collaborations between artists and creators, who are sharing their work, providing feedback, and supporting each other.
In addition to its music licensing platform, Hoopr has also been investing in its technology and infrastructure. The company has developed a range of tools and features that make it easy for creators to find and license music, including AI-powered search and recommendation algorithms, and a user-friendly interface that makes it easy to navigate the platform. Hoopr has also been investing in its customer support team, who are available to provide assistance and support to creators and artists.
The future of music licensing is exciting and uncertain, with new technologies and platforms emerging all the time. However, one thing is clear: the industry is moving towards greater transparency, fairness, and efficiency. Hoopr is at the forefront of this change, with a platform that is designed to provide creators and artists with a seamless and efficient music licensing experience.
In conclusion, Hoopr’s raise of ₹4 crore is a significant milestone for the company, and is a testament to its growth and potential. With a strong team, a clear vision, and a commitment to transparency and fairness, Hoopr is well-positioned to continue its growth trajectory and become a leading player in the music licensing industry. As the music industry continues to evolve, it will be exciting to see how Hoopr adapts and innovates, and how its platform continues to support the needs of creators and artists.
News Source: https://ascendants.in/business-stories/hoopr-raises-4-cr-music-licensing/
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