(ASEAN Startups) Hong Kong-headquartered music tech start-up Soundbrenner has raised $1.5 million funding from Singapore and Hong Kong-based financing and growth platform Choco Up , supporting endeavours including a new software product, global expansion, and entering the music education industry.
Soundbrenner said in a statement, with the new funding, Soundbrenner is poised to take its product development and market expansion to the next level.
With retail distribution already well underway in the United States, Canada, Europe, and Australia, it said the team will now focus on finding new distribution channels in other markets, including Japan, South Korea, China, and more.
Choco Up’s funding will also help enable Soundbrenner to make its long-planned entry into the music education market, providing both teachers and students with an immersive music experience like no other and enabling them to improve their timekeeping and craft, it said.
In addition, it said the company will invest capital in research and development for its next-generation hardware and software products. These new software products include Soundbrenner Plus, a Software-as-a-Service (SaaS) subscription service that features Soundbrenner Learn, a comprehensive content library for mastering rhythm.
It also said the new innovations will complement an existing stable of cutting-edge tools for musicians including Soundbrenner Core, a 4-in-1 Smart Music Tool; Soundbrenner Pulse, the company’s pioneering Smart Vibrating Metronome; and The Metronome, a mobile app for iOS and Android that works standalone and as a companion for the wearables.
“We are looking forward to utilizing the resources we have acquired to work on new products to help connect musicians and make music practice a more engaging and pleasurable experience,” said Florian Simmendinger, Chief Executive Officer and Co-Founder of Soundbrenner.
“We are grateful for the support from Choco Up, whose funding and growth platform will enable us to make inroads into regional markets and further expand our reach to musicians around the world,” he said.
Founded in 2014 in Berlin, Germany, Soundbrenner is the creator of the world’s first wearable device for musicians, the Soundbrenner Pulse, later followed by the Soundbrenner Core. By combining wearables with cutting-edge software, Soundbrenner creates a music practice experience that is fun and rewarding, allowing anyone to learn and master any instrument.
To date, Soundbrenner has shipped over 100,000 wearables, and its products are available in music stores in over 40 countries. Their mobile apps are used by more than 700,000 musicians every month, with more than 8 million downloads so far.
“While I’m no musician, I know that rhythm takes a lot of practice – and is one of the most tedious aspects of mastering any form of music. I am delighted that with this funding we can empower individuals to discover their own musical style and flair, and help young aspiring musicians everywhere to achieve their dreams,” said Percy Hung, Co-Founder, and Chief Executive Officer of Choco Up.
“Music is the universal language of mankind, and we are thrilled to be part of this journey with Soundbrenner,” he added.
Founded in 2018, Choco Up is a revenue-based financing and growth platform offering flexible non-dilutive funding solutions and business analytics across 8 countries and 10 sectors.
With offices in Hong Kong and Singapore, Choco Up leverages data analytics and vast integration to automate growth fund deployment and risk management, providing fast-growing companies with rapid capital deployment to fuel their growth.
Choco Up invests in rapidly scaling companies with domain expertise, established products, and proven demand, providing them with recurring access to growth capital without equity dilution.
Its funding model allows its portfolio companies to grow their revenue, resulting in an increase in profitability and valuation of the businesses while preserving equity for future equity fundraising rounds.
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