The investment just keeps on coming for Music 2.0 startups, despite the global financial crunch. The latest beneficiary is social music community mTraks, which has raised $550,000 from a group of private angel investors. The site lets bands set up their own profiles to promote themselves, and sell their music as DRM-free MP3 files. It offers a mixture of a la carte and monthly subscription pricing, and plans to soon let unsigned bands sell their songs too. Whether its ambitions will be stymied by MySpace Music, which is due to roll out over the coming months, remains to be seen.

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