In April, social music platform BandLab revealed that it has raised $65 million in a Sequence B spherical, with a backward valuation of $315 million.
Right now, Singapore-based BandLab introduced a milestone of fifty million customers on its platform, up from 30 million by March 2021.
Along with right now’s person quantity replace, BandLab additionally introduced a brand new initiative, the Creator Grant.
This scholarship will whole $60,000 and might be awarded to pick out people on BandLab, who, in response to the platform, have “proven nice development and ingenuity of their efforts to achieve new musical heights.”
With BandLab’s inaugural Creator Grant, 5 creators will initially profit from the initiative.
Recipients embody 14-year-old TikTok viral rapper Cl4pers, producer MJbeats, Tracklanta winners Ilene and TWIN, and the YouTube content material creator behind BandLab rapper responses KngWilo.
BandLab is the flagship product of BandLab Applied sciences, a division of Singapore-based Caldecott Music Group (CMG), which additionally owns Vista Musical Devices and NME Networks, which incorporates such publications as NME, Uncut and Guitar.com.
The BandLab Applied sciences division additionally features a skilled digital audio workstation, Cakewalk.
BandLab Applied sciences, the Singapore-based guardian firm of music app BandLab, was renamed Caldecott Music Group (CMG) in December.
BandLab’s Sequence B spherical was led by Vulcan Capital, the multi-billion greenback funding arm of Microsoft co-founder and philanthropist Paul G. Allen, with participation from Caldecott Music Group and K3 Ventures, a enterprise capital agency that was an early funder of tremendous app Seize and tech large Bytedance.
“We needed to democratize music making and provides folks with an curiosity in music making the chance to do it and thrive whereas doing it.”
Meng Ru Kuok, BandLab
“Our aim with Creator Grant is to assist and advance the event of creators by giving them cash to spend money on their very own inventive course of,” stated BandLab CEO & Co-Founder, Meng Ru Kuok.
“We see this probably funding manufacturing tools or a brand new device, social promoting or a advertising marketing campaign. There’s completely no obligation from BandLab relating to content material possession, we’re simply actually right here to assist the creator of their journey. †
Kuok added: “We needed to democratize music making and provides folks with an curiosity in making music the chance to do it and thrive whereas doing it.
“We really feel like we’re simply getting began, however are extraordinarily proud that we have introduced 50 million folks collectively to benefit from the music-making course of.”Music firm worldwide