One of our portfolio companies, Audoo, announced that they have raised £5.2 million in their latest Series A funding round. A single family office led the round, which attracted investment from ABBA’s Björn Ulvaeus and continued support from previous investors, including Tileyard Music.
Audoo is a music technology company revolutionising performance royalty. Their technology ensures that artists receive the revenue that they are due when their songs are played in public places such as cafes, gyms and shops.
The round was opened and closed by Founder, Ryan Edwards, in less than 10 weeks during the global pandemic. Audoo reported that the funds raised will be used for their global product roll-out in 2021, in partnership with leading Performance Rights Organisations.
Congratulations to the Audoo Team for providing entrepreneurial inspiration to us all.