Abbey Road Red, the music/tech incubator run by Abbey Road Studios in London, held its latest demo event last night, including an update on its portfolio.
“We have now incubated 15 companies across all areas of the value chain, who together have raised $40m and are collectively worth $200m,” said Abbey Road boss Isabel Garvey, at the event.
LifeScore is an adaptive music startup whose algorithms compose music on the fly, responding to people’s movements and other data, using stems recorded by human musicians at Abbey Road. The company has developed a mobile app, but is also working on experiences with an unnamed luxury carmaker, and with Twitch. On the app, CEO Philip Sheppard said the company’s aim is to “help you compose a film score for your life”.
MyPart, meanwhile, is the startup that has built technology to deeply analyse tracks: music, lyrics and other features. We reported on its pitch at our NY:LON Connect conference recently. The company revealed that it’s currently raising a $2m funding round, adding to its previous $1.5m backing.
Meanwhile, Garvey and Red innovation manager Karim Fanous outlined the areas they’re most curious about for future startups in the program. The internet of things within the home; music creation using AI technologies; and startups tackling the music rights chain (“deep in the weeds of the business!” as Garvey put it) are firmly on their agenda.
Get A Free Music Ally Account
Access unlimited News articles on the site, PLUS a trial of Music Ally’s subscriber-only services, including our industry-leading daily Bulletin email.