MusicStrands closes A2 round and anticipates the future of wireless music
Corvallis (Or), March 2nd, 2006. -MusicStrands, Inc. announces today that it has closed the Series A2 round of equity with GCR Venture Capital. Total amount of investment capital raised to date by MusicStrands is US$6 million, including the Series A2 round of US$2.3 million. MusicStrands develops social recommendation technology to help people enjoy, discover and intelligently organize music through cell phones and PCs. MusicStrands unique technology is being commercialized through partnerships with wireless carriers, digital media companies, and device manufacturers. MusicStrands closed the A2 financing round following the 3GSM World Congress, where the company showcased the prototype Music Guru, a next generation wireless/PC social music player developed together with Vodafone Group R&D and Adobe. Music Guru was presented at the Nokia, S60 and Adobe stands to European and Asian carriers, and will be presented to US carriers within the next few weeks.
The combination of music discovery and community building in cell phones, provides some amazing features for the end user, such as playlist sharing, tagging songs, "playing" tags, knowing real-time what our friends are listening to, and many others, says Dr. Francisco J. Martin, CEO at MusicStrands.
Aitor Cobanera, head of the GCR Venture Capital Group, believes that advanced music discovery solutions developed by MusicStrands, will become a key differentiator for the wireless industry and digital music retailers.
AboutMusic
Strands MusicStrands (www.MusicStrands.com) develops social recommendation and discovery technologies to help people discove and i i and sha t tes i i ith the through I t t The combination of music discovery and community building in mobile devices provides some potentially amazing features for customers, such as playlist sharing, tagging songs, "playing" tags, knowing real-time what our friends are listening to, and many others, says Dr. Francisco J. Martin, CEO at MusicStrands.
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