Hoopr raises ₹4 crore to boost smash & music licensing growth
The music licensing industry has witnessed significant growth in recent years, with the rise of digital content creation and the increasing demand for copyright-safe music. One startup that has been making waves in this space is Hoopr, a music licensing platform that provides high-quality, copyright-safe music to creators and businesses. In a recent development, Hoopr has raised ₹4 crore in an extended pre-Series A round, valuing the company at ₹160 crore. This funding will be utilized to expand Hoopr Smash, enhance user experience, and strengthen engineering, curation, and partnerships.
Hoopr’s music licensing platform has been gaining traction, with over 12,000 copyright-safe tracks, 300+ artists, and 30,000 creators onboard. The platform’s catalog is diverse, with a wide range of genres and moods to choose from. This has made it a go-to destination for creators and businesses looking for high-quality music to use in their content. With the fresh funding, Hoopr aims to scale its catalog, expand its global reach, and build a more transparent royalty ecosystem.
The music licensing industry is complex, with multiple stakeholders involved, including artists, labels, and publishers. Hoopr’s platform simplifies the process of music licensing, making it easier for creators to access high-quality music while ensuring that artists and rights holders receive fair compensation. The platform’s transparent royalty ecosystem is a key differentiator, providing artists and rights holders with detailed insights into how their music is being used and ensuring that they receive fair payment for their work.
The funding will also be used to expand Hoopr Smash, the company’s flagship product. Hoopr Smash is a platform that allows creators to discover and license music for their content. The platform uses AI-powered curation to suggest music that fits the mood and style of the content, making it easier for creators to find the perfect track. With the fresh funding, Hoopr plans to enhance the user experience on Hoopr Smash, adding new features and functionality to make it easier for creators to discover and license music.
In addition to expanding Hoopr Smash, the funding will also be used to strengthen engineering, curation, and partnerships. Hoopr plans to invest in its engineering team, hiring new talent to build out its platform and improve its infrastructure. The company will also focus on curation, adding new music to its catalog and improving its discovery features. Partnerships will also be a key area of focus, with Hoopr looking to partner with other companies in the music and media industries to expand its reach and offerings.
The music licensing industry is highly competitive, with multiple players vying for market share. However, Hoopr’s focus on transparency, fairness, and quality has set it apart from the competition. The company’s commitment to providing high-quality, copyright-safe music to creators and businesses has earned it a loyal customer base, and its transparent royalty ecosystem has made it a trusted partner for artists and rights holders.
In conclusion, Hoopr’s ₹4 crore funding is a significant development for the music licensing startup. The funding will be used to expand Hoopr Smash, enhance user experience, and strengthen engineering, curation, and partnerships. With its focus on transparency, fairness, and quality, Hoopr is well-positioned to capitalize on the growing demand for music licensing and become a leader in the industry. As the company continues to grow and evolve, it will be exciting to see how it shapes the future of music licensing and provides new opportunities for creators, artists, and businesses.
About Hoopr
Hoopr is a music licensing platform that provides high-quality, copyright-safe music to creators and businesses. The company’s platform has over 12,000 copyright-safe tracks, 300+ artists, and 30,000 creators onboard. Hoopr’s mission is to provide transparent and fair music licensing solutions that benefit both creators and artists.
News Source:
https://ascendants.in/business-stories/hoopr-raises-4-cr-music-licensing/
About the Author
