Beatoven.ai will leverage the funding to develop a scalable go-to-market strategy to reach and acquire new users on a global scale.
Beatoven.ai, an AI-driven music tech start-up, has raised Rs 11 crore in the pre-Series A round. The round was led by Capital 2B, with participation from existing investor Entrepreneur First and new investors IvyCap Ventures, Upsparks Capital, Rukam Capital, and several angel investors.
The newly acquired funding will be invested to fuel Beatoven.ai's growth across various aspects. Firstly, the company plans to enhance the user experience by continuously improving music accuracy and quality while simultaneously designing intuitive editing features that empower users to fine-tune their soundtracks.
Additionally, Beatoven.ai is committed to supporting independent musicians through their artist-friendly data sourcing program, which has been recognized for its ethical practices, according to the company statement. The company also plans to build a world-class team specialising in research and development for music creation and composition. Finally, Beatoven.ai will leverage the funding to develop a scalable go-to-market strategy to reach and acquire new users on a global scale.
Amit Behl, Partner at Capital 2B, said, “Beatoven.ai understands that building a successful Gen-AI music product requires a deep passion for music and audio technology, not just advanced AI models.”
With over 1 million users globally and 96 per cent of its revenue coming from international markets, Beatoven.ai has established itself as one of the top 3 players in generative music in the world based on website traffic and technology, according to a company statement.
Beatoven.ai offers a range of features, empowering creators to produce high-quality music. Currently, the users can input prompts for text-to-music generation and are testing out multimodal inputs where a user can input video/images, text, and audio references to generate a closely aligned music track.