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 round is a testament to the growing importance of music licensing in the digital age, and Hoopr’s position as a leader in this space. With this fresh infusion of capital, Hoopr plans to expand its popular platform Hoopr Smash, enhance user experience, and strengthen its engineering, curation, and partnerships.
For the uninitiated, Hoopr is a music licensing startup that provides copyright-safe music tracks to creators and businesses. The platform has gained significant traction in recent times, with over 12,000 tracks, 300+ artists, and 30,000 creators onboard. Hoopr’s mission is to democratize access to high-quality music, while ensuring that artists and creators are fairly compensated for their work.
The funds raised in this round will be utilized to scale Hoopr’s catalog, expand its global reach, and strengthen its transparent royalty ecosystem. This will enable the company to offer an even wider range of music tracks to its users, while ensuring that artists and creators receive fair compensation for their work. With its robust technology platform and strong curation team, Hoopr is well-positioned to capitalize on the growing demand for music licensing.
Hoopr Smash, the company’s popular platform, will also see significant expansion and enhancement. Hoopr Smash is a unique platform that allows creators to discover and license music tracks for their content. With its user-friendly interface and vast library of tracks, Hoopr Smash has become a go-to destination for creators looking for high-quality music. The expansion of Hoopr Smash will enable the company to offer even more features and functionality to its users, making it an even more attractive platform for creators.
The music licensing industry is poised for significant growth in the coming years, driven by the increasing demand for digital content. As more and more businesses and creators turn to digital platforms to reach their audiences, the need for high-quality, copyright-safe music will continue to grow. Hoopr is well-positioned to capitalize on this trend, with its strong technology platform, robust curation team, and commitment to fair compensation for artists and creators.
In addition to expanding its platform and catalog, Hoopr also plans to strengthen its engineering, curation, and partnerships. The company will invest in building a stronger engineering team, which will enable it to develop more innovative features and functionality for its users. Hoopr will also expand its curation team, which will enable it to offer an even more diverse and high-quality range of music tracks to its users. Finally, the company will focus on building stronger partnerships with artists, creators, and businesses, which will enable it to offer more comprehensive and integrated music licensing solutions.
Overall, the funding round is a significant milestone for Hoopr, and a testament to the company’s potential for growth and success. With its strong technology platform, robust curation team, and commitment to fair compensation for artists and creators, Hoopr is well-positioned to capitalize on the growing demand for music licensing. As the company continues to expand and enhance its platform, it is likely to become an even more important player in the music licensing industry.
In conclusion, Hoopr’s ₹4 crore funding round is a significant development for the music licensing startup. With this fresh infusion of capital, the company plans to expand its popular platform Hoopr Smash, enhance user experience, and strengthen its engineering, curation, and partnerships. As the music licensing industry continues to grow and evolve, Hoopr is well-positioned to capitalize on this trend, and become a leading player in the space.
About Hoopr
Hoopr is a music licensing startup that provides copyright-safe music tracks to creators and businesses. The company’s mission is to democratize access to high-quality music, while ensuring that artists and creators are fairly compensated for their work. With over 12,000 tracks, 300+ artists, and 30,000 creators onboard, Hoopr is one of the leading music licensing platforms in the country.
News Source: https://ascendants.in/business-stories/hoopr-raises-4-cr-music-licensing/
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