Audoo raises £600k in seed funding from angel investors to improve music royalty monitoring.
The company secured the capital from a group of high profile angel investors to scale its music tracking technology.
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 technology start-up Audoo has secured £600k in a seed investment round led by angel backers including Greg Gormley, Luke Heron, Tim Davies, Ed Matthews, and Marcus Watson. The fresh capital will support the deployment of the company audio monitoring technology designed to improve music royalty accuracy for artists and performance royalty organisations. The funding follows challenges in the global music industry where manual tracking methods often disadvantage smaller creators.
From the founder
"As an ex-musician, I know first-hand how challenging the distribution of royalties can be with its manual processes and lack of accurate data."
Ryan Edwards
Founder and CEO at Audoo
Investor perspective
"I’m delighted to have invested in such an innovative business that will change the face of the music industry and fairly reward artists. As a technology entrepreneur, it was evident very early on that Audoo’s technology has the potential to revolutionise a much-loved industry, making it fairer and more transparent for everyone."
Greg Gormley
Investor, Greg Gormley
