Brooklyn-based musictech startup Weav Music raises $5m in Series A funding
Weav Music, a musictech startup based in Brooklyn, New York City, has raised $5 million in a Series A financing round to expand its adaptive music platform, which is available currently under its Weav Run app.
The audio innovation lab, which is led by Lars Rasmussen – co-founder of Google Maps and Elomida Visviki – a marketing visionary, secured funding from venture capital firm King River Capital, who led the series A financing round.
Peloton, a US exercise equipment and media company, also took part in the funding round of the musictech startup along with existing investors Rivet Ventures and Passion Capital.
Elomida Visviki – Weav CEO said: “The music industry has made tremendous progress with ubiquitous streaming services, yet records themselves remain the same static audio files of century-old vinyl.
“We’re committed to evolving the way music is created and experienced. To that end, we’re thrilled to join forces with King River, whose partners have played an influential role in some of the world’s most game-changing technologies over the past few decades.”
Weav Music claims that its music technology customizes the experience of listening to music by adapting a recorded track in real-time, to match the activity of listeners. The music technology is said to seamlessly remix energy, structure, and crossfades, while keeping the quality and artistic integrity intact.
Through its technology, Weav Music is said to deliver a customized playback with applications in fitness, sports, gaming, dance, AR/VR, and other areas where music can improve an individual’s experience.
The music technology company claims to have already produced adaptive tracks by leading artists by signing licensing deals with major and indie labels. Weav Music hopes that the new capital will empower it to continue building its partnerships and also its music library, and expand well beyond its fitness roots.
The funding is also expected to enable the team to continue scaling its adaptive music production by means of deep learning, said the musictech startup.
Megan Guy – King River Co-Founder and Partner said: “Music is an integral and energizing element of fitness for so many of us, with tangible impact on performance.
“Weav’s software enhances the experience of being active and capitalizes on broader growth trends in connected devices, and personalized interactive health and wellness.
“King River is delighted to be on this journey with Elomida and Lars — incredible founders with an exceptional track record of building viral, essential software products that delight users around the world.”