Roehl Niño Bautista · · 1 min readSoundCloud acquires Singaporean AI-backed music startup
Audio platform SoundCloud has acquired Singapore-based Musiio, a firm building AI solutions for the music industry. The deal’s financial details were not disclosed.
Photo credit: deadburnett / 123RF
Musiio’s products are built on its AI’s capability to assign metadata to music based on categories such as genre, mood, and instrument used. The company also said that its AI is capable of predicting if a song could be a hit through machine learning. Wavemaker Partners, Exponential Creativity Ventures, and Entrepreneur First have backed its seed round in 2019.
The B2B firm was founded by Hazel Savage and Aron Pettersson in 2018. The pair will come on board SoundCloud as vice president for music intelligence and vice president for AI and machine learning, respectively.
SoundCloud will also fully integrate Musiio’s employees into its operations. These employees will keep their positions, the company added.
“Acquiring Musiio accelerates our strategy to better understand how that music is moving in a proprietary way, which is critical to our success,” said Eliah Seton, president of SoundCloud.
Founded in 2007, SoundCloud is an audio-based platform for music artists. The company said that it has 300 million tracks by 30 million creators coming from 190 countries.
See also: This made-in-Singapore app with millions of users is democratizing music creation
Editing by Miguel Cordon and Lorenzo Kyle Subido
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