Music storage start-up signs £100,000 seed funding deal
Songdrop secures first investment to support continued development and mobile app launch
Music sharing and storage site Songdrop has closed its first investment round, securing £100,000 from seed and early-stage private fund SOIC Capital.
Founded in 2012, the start-up enables users to take music and videos from a variety of sources including YouTube, Soundcloud, Vevo and blogs to create playlists and share music on one platform.
The first successful funding round is set to support co-founders Brittney Bean, Richard Taylor and James Towers as they continue to develop the site and prepare to launch a paid-for mobile application.
With additional in-app purchases also planned for the future of Songdrop, the company is in discussions with a number of brands, record labels and potential partners.
Brittney Bean, co-founder and CEO of Songdrop, commented: “We’re super excited that we’ve closed our first round of investment as it enables us to really ramp up product development and get our first mobile application into the wild.
“We’re focused on creating a superior experience for listening to streaming music no matter the device.”