Russia-based music-streaming platform Zvooq has secured an investment of $20m in a series A round led by Ulmart, Russia’s leading online retailer, with the participation of Essedel Capital, a Finland-based private equity fund.
The funds will be used to bolster and promote Zvooq’s freemium music-streaming product. Zvooq will also “initiate roll-out of the service in some other emerging markets.”
Zvooq’s platform integrates directly into social networks, phones and cellular carriers’ offerings to provide a mass market solution easily available…
