Cambridge Innovation Capital (CIC), a Cambridge-based investor in high-growth technology and healthcare companies, has led a follow-on funding round which has invested a further £2.0 million into digital music creator Jukedeck. BACKED VC and others invested alongside CIC.
CIC first invested in Jukedeck, with the University of Cambridge when the company raised its seed funding in 2014. Jukedeck has also announced the launch of its first product, Jukedeck MAKE, at TechCrunch Disrupt on 7 December 2015 and that Chris Smart (formerly a Director of Shazam Entertainment) has joined the Board.
Jukedeck MAKE creates unique music at the touch of a button, using artificial intelligence. Users come to the Jukedeck site, choose a style of music and other settings (such as mood, speed and exact duration) and a new piece of music based on those specifications is composed in an instant.
The product provides video creators with an incredibly simple and quick way of sourcing royalty-free, original music which is tailored precisely to their needs. During private beta testing, tracks created by the software have already received 16 million views on YouTube.
If you want to hear your own unique piece of music follow this link - www.jukedeck.com
Victor Christou, Chief Executive Officer of Cambridge Innovation Capital, commented: “We are thrilled that Ed and the Jukedeck team have been able use the machine learning tools developed within Jukedeck to solve the increasingly painful problem of sourcing unique, tailored music for video creators in a fast, simple and cost-effective way.
"This funding round further validates our initial investment and allows the business to launch its exciting product globally. With the support of CIC and the other investors, we’re certain to be hearing much more from Jukedeck in the future.”
Ed Rex, Chief Executive Officer of Jukedeck, added: “CIC are the perfect partner for us. They spotted the potential in the technology and were able to provide funds to support our early growth alongside seed funding from the University of Cambridge. Now, they are following through and supporting us in our long-term vision as we grow into a more mature business.”
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