Audoo raises £5.2m in Series A funding to expand its public performance music tracking technology.
The funding round was backed by Edinv, ABBA star Björn Ulvaeus and Tileyard London.
Audoo is a British music technology company that provides data collection solutions for public performance royalties. The firm supplies devices and insights platforms to track music played in public venues.
London based music technology company Audoo has closed a £5.2m Series A funding round in under ten weeks. The capital comes from backers including Edinv, Björn Ulvaeus and existing investor Tileyard London.
The proceeds will be directed towards ensuring musicians receive appropriate revenue by accurately tracking and reporting music played in public venues such as shops, gyms and cafes. The firm has developed a compact plug in audio meter that securely monitors ambient music without complex installation.
The company is scaling its hardware rollout by collaborating with international performing rights organisations to integrate the meters into venue licensing requirements. Beyond royalty auditing, the captured data offers insights for record labels, publishers and artists to refine their commercial strategies.
