Berlin based IDAGIO has raised a $9.5 million Series A round to expand its classical music focused streaming service. Investors Tengelmann Ventures led the round and previous investor b-to-v Partners expanded its position.
"The new capital will help us further expand our technology leadership and increase our commitment to building the world's largest classic collection," said Till Janczukowicz, founder and CEO of Idagio.
IDAGIO has users in 70 countries, but is not available in the U.S. It currently boasts more than 140 million recordings, with 5000 more added weekly.
Though licensing issues continue to discourage the launch of more new music streamers, we expect more specialty streamers serving niche audiences with select catalogs, curation and editorial to enter the market next year.