Hoopr raises ₹4 crore to boost smash & music licensing growth
In a significant development, music licensing startup Hoopr has raised ₹4 crore in an extended pre-Series A round, valuing the company at ₹160 crore. This funding will play a crucial role in expanding Hoopr Smash, enhancing user experience, and strengthening the company’s engineering, curation, and partnerships. With a robust catalog of 12,000+ copyright-safe tracks, 300+ artists, and 30,000 creators onboard, Hoopr aims to scale its music licensing platform, increase its global reach, and build a more transparent royalty ecosystem.
The music licensing industry has witnessed significant growth in recent years, driven by the increasing demand for high-quality, copyright-safe music. Hoopr, with its innovative approach and robust platform, is well-positioned to capitalize on this trend. The company’s music licensing platform provides creators with access to a vast library of tracks, allowing them to use high-quality music in their content without worrying about copyright issues.
The funds raised in this extended pre-Series A round will be utilized to enhance the user experience on Hoopr Smash, the company’s music licensing platform. This will involve investing in improving the platform’s user interface, search functionality, and recommendation algorithms. By providing a seamless and intuitive user experience, Hoopr aims to increase user engagement and drive growth.
In addition to enhancing the user experience, the funds will also be used to strengthen Hoopr’s engineering, curation, and partnerships. The company plans to invest in its engineering team to improve the platform’s scalability, reliability, and performance. This will enable Hoopr to handle increasing traffic and user demand, ensuring that the platform remains stable and efficient.
Hoopr’s curation team will also play a critical role in the company’s growth strategy. The team will focus on adding high-quality, relevant tracks to the platform’s catalog, ensuring that creators have access to a diverse range of music. This will involve partnering with emerging and established artists, as well as investing in music production and curation.
The company’s partnerships will also be a key area of focus. Hoopr plans to collaborate with leading music industry players, including labels, publishers, and artists, to expand its catalog and increase its reach. By building strong partnerships, Hoopr aims to establish itself as a leading music licensing platform, providing creators with access to a vast library of high-quality music.
With 12,000+ copyright-safe tracks, 300+ artists, and 30,000 creators onboard, Hoopr has already made significant progress in building a robust music licensing platform. The company’s transparent royalty ecosystem ensures that artists and creators are fairly compensated for their work, providing a win-win solution for all stakeholders.
The music licensing industry is expected to continue growing in the coming years, driven by the increasing demand for high-quality, copyright-safe music. Hoopr, with its innovative approach and robust platform, is well-positioned to capitalize on this trend. The company’s focus on enhancing the user experience, strengthening its engineering, curation, and partnerships, and building a transparent royalty ecosystem will drive growth and establish Hoopr as a leading music licensing platform.
In conclusion, Hoopr’s ₹4 crore funding in an extended pre-Series A round is a significant development for the music licensing startup. The funds will be utilized to expand Hoopr Smash, enhance user experience, and strengthen the company’s engineering, curation, and partnerships. With a robust catalog, transparent royalty ecosystem, and growing user base, Hoopr is poised to scale its music licensing platform and increase its global reach.
The future of music licensing looks promising, and Hoopr is at the forefront of this trend. As the company continues to grow and expand its platform, it will be exciting to see how Hoopr evolves and innovates in the music licensing space. With its focus on providing high-quality, copyright-safe music to creators, Hoopr is set to play a significant role in shaping the future of the music industry.
Source: https://ascendants.in/business-stories/hoopr-raises-4-cr-music-licensing/
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