UK-based AI music startup DAACI has made its first two acquisitions.
One of them is MXX, a startup that built a video-editing tool that automatically reworks music tracks to the right length.
MXX has been acquired before, by Triller in 2019. It’s also a previous employer of DAACI’s CEO Rachel Lyske, who was its MIR [music information retrieval] lead between 2018 and 2021.
The second acquisition is WiSL, another UK-based startup, which has built a system for content creators to “source, edit, audition and license music”.
DAACI has not said how much it paid for either startup, but the company said the deals mean it now has 60 granted patents (with 20 more filed), a 60-strong workforce, and annual revenues of just under £4.9m.
“The ultimate goal is to channel our incredibly powerful ecosystem of technology to create new paths for talented individuals to express themselves,” said Lyske.
Last November DAACI joined the Abbey Road Red startups incubator, shortly after being named one of the first winners of our Music Ally SI:X startup awards.
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