Stockholm, Sweden-based self-serve licensing platform for commercially released music, Freshsound, raised EUR 2 million in seed funding. The round took place on May 11, 2023. Zenith Venture Capital and Aligned led the financing for the firm. Meanwhile, a wide array of investors with expertise in music, innovation, product development and sales joined in the funding. Kristina Tunkrans (former lawyer and copyright expert), Erik Segerborg (investor and former Executive at Hemnet and Avito), Gustav Nordlindh (Founder and CEO at Royal Streaming), William Olsson (Movie Producer and Director) and Shiv Prakash (previous Vice President of the Investment Team at Hipgnosis Song Management) participated in the seed funding.
Purpose of financing for Freshsound
With the latest proceeds from the seed funding, the Swedish startup plans to expand its operations globally. Meanwhile, it seeks to establish a strong base in the Nordics.
Freshsound also has plans to build awareness of the platform’s capabilities for licensing music for any kind of production. The company earlier raised EUR 1.3 million in pre-seed financing. The pre-seed round took place in 2022.
What the company’s co-founder has to add
Stevie Gyasi, CEO, Freshsound, “Our investors recognise the importance of our mission to transform the rights process for commercial music. This investment round will help Freshsound to build its pool of professional storytellers in advertising and production, increasing the potential for music creators to make money and for the content creators to make even more impactful content. We’re excited to continue on our journey into the next phase and bring more users to our cause.”
What the investors have to say
Caroline Cronstedt, Co-founder and Head of Investments at Zenith Venture Capital, further added, “Freshsound has a dynamic plan to build its network of customers, and this investment will help them to achieve their goals and change the way in which licensing of commercial music is done today – while helping artists to be more self-sufficient.”
About the company
Stephen Gyasi and Sara Larsson launched the company in 2021. The Sweden-based music company, Freshsound offers a self-serve licensing platform for commercially released music. The company caters to content creators within commercials, films, TV as well as gaming to create content with commercially-focused music from its original music marketplace. The licensing platform features pricing algorithms as well as recommendation solutions to find and license music. This allows entertainment and advertising companies to deliver content for their customers’ needs.
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