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 independent artists and content creators. One startup that has been making waves in this space is Hoopr, a music licensing platform that provides copyright-safe tracks 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 round is a testament to the company’s growth potential and its commitment to revolutionizing the music licensing industry.
The funds raised will be utilized to expand Hoopr Smash, the company’s flagship product, which offers a vast library of pre-cleared music tracks for use in videos, ads, and other creative projects. The platform will also focus on enhancing user experience, making it easier for creators to discover and license music that fits their needs. Additionally, the company plans to strengthen its engineering, curation, and partnerships teams to support its growing user base and expand its catalog of music tracks.
With over 12,000 copyright-safe tracks, 300+ artists, and 30,000 creators onboard, Hoopr has established itself as a leading player in the music licensing industry. The company’s catalog includes a diverse range of genres, from electronic and hip-hop to classical and folk, making it an attractive platform for creators looking for high-quality, royalty-free music. Hoopr’s transparent royalty ecosystem ensures that artists are fairly compensated for their work, making it a win-win for both creators and musicians.
The music licensing industry has traditionally been dominated by large players, making it difficult for independent artists to break into the market. Hoopr’s platform has democratized music licensing, providing a level playing field for emerging artists to showcase their talent and get discovered. The company’s focus on transparency and fairness has earned it a reputation as a trusted partner for both creators and musicians.
The funding round is a significant milestone for Hoopr, and it will enable the company to scale its operations and expand its global reach. With the rise of social media and online content creation, the demand for high-quality, copyright-safe music is on the rise. Hoopr is well-positioned to capitalize on this trend, with its vast library of music tracks and user-friendly platform.
In addition to expanding its catalog and user base, Hoopr plans to strengthen its partnerships with music labels, publishers, and other industry players. This will enable the company to offer an even wider range of music tracks to its users, while also providing more opportunities for artists to get their music licensed.
The music licensing industry is expected to continue growing in the coming years, driven by the increasing demand for online content and the rise of independent artists. Hoopr is well-positioned to capitalize on this trend, with its innovative platform and commitment to transparency and fairness. With the funding round, the company will be able to invest in new technologies, expand its team, and enhance its user experience, making it an even more attractive platform for creators and musicians.
In conclusion, Hoopr’s funding round is a significant development for the music licensing industry, and it highlights the company’s growth potential and commitment to innovation. With its transparent royalty ecosystem, vast library of music tracks, and user-friendly platform, Hoopr is revolutionizing the way creators and businesses license music. As the company continues to scale its operations and expand its global reach, it is likely to play an even more significant role in shaping the future of the music licensing industry.
Source: https://ascendants.in/business-stories/hoopr-raises-4-cr-music-licensing/
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