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Social music creation platform BandLab closes US$65M Collection B spherical

Singapore-based social music platform BandLab introduced the closing of its Collection B financing spherical at US$65 million with a post-money valuation of US$315 million. Prosus Ventures, the enterprise arm of Netherlands-listed Prosus, is the brand new investor within the spherical.

BandLab earlier introduced a US$53 million Collection B, led by Vulcan Capital, in December final yr. Different buyers within the spherical are Caldecott Music Group and K3 Ventures.

The funds will permit BandLab to broaden its group and develop its choices to music creators and aspiring artists worldwide.

Launched in 2015, BandLab is a next-generation social music creation platform, which goals to assist creators of all types, from first-time creators to Grammy-winning producers.

Its cross-platform inventive ecosystem contains Combine Editor, a royalty-free Sounds library, Mastering, and a newly introduced AI-powered SongStarter.

Additionally Learn: Singapore music collab platform BandLab acquires music live-streaming service Chew

Past creation instruments, it additionally provides artist companies like distribution and direct fan subscriptions. The upcoming integration of its lately acquired unbiased artist companies platform ReverbNation into BandLab will additional broaden the suite of companies out there to unbiased artists.

Its dad or mum BandLab Applied sciences additionally runs the professional-level digital audio workstation, Cakewalk.

“BandLab has constructed a next-generation platform democratising music creation for creators globally,” mentioned Sachin Bhanot, Head of Southeast Asia Investments for Prosus Ventures. “The corporate has skilled spectacular development whereas producing strong person engagement.”

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