Who is Aimi what does the $20M it just raised mean for creators and AI-powered music?
Aimi has raised an impressive $20 million in a Series B funding round for its immersive, artist-driven AI-powered music platform.
The round was led by Great Mountain Partners, which holds a stake in independent record company Concord and the tech-focused Founders Fund, whose portfolio ranges from SpaceX to Spotify.
Who is Aimi?
Axios described Aimi this way: “The company’s technology showcases the potential of AI to understand and create music, while demonstrating the value of keeping an expert human in the loop…The result is akin to a live DJ concert experience – a kind of AI Ibiza – but one created in a fraction of the time and essentially infinite in length.”
Aimi’s proprietary software works within the creative parameters configured by each artist to deliver an experience true to their creative vision.
Listener experiences created by DJs and producers in collaboration with the platform’s artificial intelligence include unreleased material, sonic ideas and motifs in the form of one ever-evolving composition that changes when the user presses play.
Aimi’s roster includes Cassy, DJ BORING, dBridge, Max Cooper, Roska, Seth Troxler’s Lost Souls of Saturn, Shanti Celeste, Soul Clap, Steffi, Tensnake and more, with new artists introduced weekly.
Following its limited free period this fall, the premium service of Aimi+ will also shift to a paid model, using blockchain technology and smart contracts to administer royalties and revenue to all artists utilizing the platform.
“When we founded Aimi we saw an opportunity to elevate the art of music with the science of technology,” says Aimi President & CEO Edward Balassanian. “Now, after signing hundreds of artists and releasing world-class music experiences that take listeners on a journey crafted by some of the top creators in the world, we are ready for the next chapter. With the investment from Great Mountain Partners and Founders Fund, we can now make the vision of computational music accessible to tens of millions of creators around the world.”
Bruce Houghton is Founder and Editor of Hypebot and MusicThinkTank and serves as a Senior Advisor to Bandsintown which acquired both publications in 2019. He is the Founder and President of the Skyline Artists Agency and a professor for the Berklee College Of Music.