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 a staggering ₹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 leading player in this space. The funds raised will be utilized to expand Hoopr Smash, enhance user experience, and strengthen the company’s engineering, curation, and partnerships.
For the uninitiated, Hoopr is a music licensing platform that provides copyright-safe music tracks to content creators, filmmakers, and advertisers. The company has been at the forefront of democratizing music licensing, making it easier for creators to access high-quality music without the hassle of navigating complex copyright laws. With a catalog of over 12,000 tracks, 300+ artists, and 30,000 creators onboard, Hoopr has established itself as a go-to destination for music licensing needs.
The extended pre-Series A round is a significant milestone for Hoopr, and the funds raised will be used to drive growth and expansion. One of the key areas of focus will be Hoopr Smash, the company’s platform for emerging artists. Hoopr Smash provides a unique opportunity for new and upcoming artists to showcase their talent and gain visibility. The platform has already gained traction, and the additional funding will help Hoopr to further enhance the user experience and provide more opportunities for artists to shine.
Another area where the funds will be utilized is in strengthening Hoopr’s engineering, curation, and partnerships. The company plans to invest in its technology infrastructure to improve the efficiency and effectiveness of its music licensing platform. This will enable Hoopr to better serve its users, provide more personalized recommendations, and enhance the overall user experience. Additionally, the company will focus on building strategic partnerships with music labels, artists, and other industry stakeholders to expand its catalog and reach.
The music licensing industry is a complex and often opaque space, with many creators and artists struggling to navigate the nuances of copyright law. Hoopr has been working to change this by creating a transparent royalty ecosystem that benefits both creators and artists. The company’s platform provides a fair and transparent way for artists to monetize their music, and the additional funding will help Hoopr to further develop this ecosystem.
The growth of Hoopr is a testament to the increasing importance of music licensing in the digital age. With the rise of social media, online video platforms, and streaming services, the demand for high-quality, copyright-safe music has never been higher. Hoopr is well-positioned to capitalize on this trend, and the funds raised will help the company to scale its catalog, expand its global reach, and strengthen its position as a leader in the music licensing space.
In conclusion, Hoopr’s ₹4 crore funding round is a significant development that will help the company to drive growth, expansion, and innovation. With a strong focus on Hoopr Smash, user experience, engineering, curation, and partnerships, the company is well-positioned to capitalize on the growing demand for music licensing. As the music licensing industry continues to evolve, Hoopr is poised to play a key role in shaping its future.
About Hoopr
Hoopr is a music licensing startup that provides copyright-safe music tracks to content creators, filmmakers, and advertisers. The company has a catalog of over 12,000 tracks, 300+ artists, and 30,000 creators onboard. Hoopr’s mission is to democratize music licensing, making it easier for creators to access high-quality music without the hassle of navigating complex copyright laws.
News Source:
https://ascendants.in/business-stories/hoopr-raises-4-cr-music-licensing/
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