Chinese Net Giant Baidu And Carmel Ventures invest $5 Million In Music Education App Tonara
Chinese leading search engine Baidu and Carmel Ventures have made a joint investment to the tune of $5 million dollars in music education technology software, Tonara.
The company currently has two apps available to consumers. Tonara, a digital sheet music platform for musicians that follows along with live music, turning pages when applicable, and Wolfie, an app for teachers and students that was launched in 2014. The $5 million co-investment, a handsome sum in the music education world, will accelerate Tonara's growth, especially in China, home of the world's largest music education market.
“Tonara's mission is to redefine the way music is taught, learned and practiced around the world by bringing music education into the digital age. We are excited by Baidu's endorsement of Tonara's vision and potential” said Guy Bauman, CEO of Tonara. “The new funding will enable us to scale and reach music students and teachers globally. We’re thrilled to cooperate with Baidu in reaching out to the Chinese audience."
“Tonara has consistently pushed the envelope when it comes to developing innovative and revolutionary technology,” said Peter Fang of Baidu. “Not only is there a huge global market for Tonara's music education platform, a large piece of which is China, but we see many other possible applications for Tonara's technology. We are certain that Tonara’s future will be extraordinary, and we’re proud to be a part of it.”
“Music education hasn't changed for hundreds of years. We are delighted to support Tonara in its mission to redefine the huge global market of music education by creating a user-friendly music practicing experience on tablets for students and teachers," added Rina Shainski, General Partner of Carmel Ventures."
Tonara and Wolfie boast continuously expanding catalogues with additional publisher partnerships to be announced in coming months.
