Thursday, September 24, 2020

AI music startup Endel raises $5m Series A funding round | Music Ally

Endel has been one of the higher-profile startups exploring AI-generated music: in its case, focusing on its application as music to help people concentrate, relax and sleep. Now it has raised a Series A funding round of $5m to further its ambitions.

The round was led by True Ventures and its partner Kevin Rose – the founder of Digg – whose recent career has included launching guided meditation app Oak. Amazon’s Alexa Fund is one of the other investors in the round, although that relationship stretches back to Endel’s seed funding in 2018.

The company says it has attracted more than two million users of its consumer products, which range from a mobile app and an Alexa skill to a sleep-music channel on Twitch, and albums released on digital music services via a distribution deal with WMG.

In an interview with TechCrunch, Endel’s CEO Oleg Stavitsky said that the company wants to work with more human musicians, to help them complement their regular album releases with “a functional, adaptive album that is available to you as a soundscape when you have to work, when you want to go to sleep”.

Stuart Dredge


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