Free-to-use original music created by machines brings Jukedeck a $3m investment to enable its expansion.
Jukedeck, a UK-based digital music creation spinout from Cambridge University, has raised £2m ($3m) in its series A round from a consortium including Cambridge Innovation Capital.
Cambridge Innovation Capital is an investment fund supported by Cambridge University. It invests in companies that are based in or have been based in the Cambridge Cluster, a geographical area defined by the creation of technology spinouts or startups from the university.
Cambridge Innovation Capital invested £1.5m in Jukedeck in this round. The remaining investment was committed by venture capital firms Backed, Playfair Capital and Parkwalk Advisors.
Jukedeck was established by a team of composers, engineers and academics from Cambridge University. The company uses machine learning to create original music digitally. The music is free and can be used for any purpose as there are no copyright concerns.
The funding from this round will be used by Jukedeck to hire new staff and expand. It will also be used as working capital.
In August 2014, Jukedeck raised £500,000 from Cambridge Innovation Capital in its seed round.
