Porto and London based music tech startup Musikki, has just raised $1 million USD from Portugal Ventures, the biggest venture capital fund in Portugal. Musikki ,which provides B2C and B2B services for the music industry has also launched a new image service, Exclusiph.
Musikki has launched Exclusiph, an image management and distribution tool for the music industry. It is already in use by independent labels 4AD and Secretly Group.
The Exclusiph platform enables the distribution of images to multiple channels with a single upload. By uploading a high-resolution file, Exclusiph automatically generates the image for print, as a digital download, and embeds it. Credits, music metadata and related content like press releases, video and audio links can all be added to the image file.
Musikki's lead product is their Music API. “We set up Musikki as a consumer app, dubbed ‘the IMDB of music’, but quickly diversified the offering by launching the Music API which provides all the data, content and information needed to develop a new music service," said Joao Afonso, co-founder and CEO. "The aim of the Musikki Music API is to provide everything except the music itself. And, it was during our quest to provide a one-stop solution for music app developers that we identified the need in the B2B space to easily access and manage high quality and official music photos.”
Marco Fernandes, CEO, Portugal Ventures says: "We have great expectations for Musikki. This kind of platform, dedicated to the music industry, updated in real time and born global is the kind of startup we want to invest in order to foster the Portuguese startup ecosystem."
Negotiations for a series A funding round are already in process as Musikki gears up to enter other markets with Exclusiph. This follows Musikki’s initial funding secured by winning, in 2012, the Building Global Innovators Venture Competition co-organised by the MIT, which provided the music-tech startup with USD $250,000 in first funding. Musikki also secured USD $500,000 from Intercapital and Smarty Equity, two investment firms focused on early-stage ventures.