Audoo is a British startup that has launched technology for monitoring music played in public spaces, in order to ensure the proper performance royalties are paid.
The company has just raised £1.5m (just over $1.9m) in its latest funding round, with investors including Tileyard London – the fast-growing music hub into which Audoo will soon move its office.
“What Audoo are creating finally offers true and fair insight across the music industry […] We’re proud to have invested in such an entrepreneurial business, and cannot wait to have the team here at Tileyard within our thriving creative community,” said Tileyard London founder Nick Keynes in a statement.
The news follows Audoo’s launch of an equity crowdfunding campaign on the Seedrs platform in early February, where it has so far raised 91% of its target of just over £250k, at a pre-money valuation of £6m. Audoo also recently joined the Abbey Road Red accelerator in London.