Venture funding is still flowing into music tech, but not if the concept involves licensing music. AmpMe pulls the tunes that power its app from the users library, Soundcloud and now the free-daddy of them all, YouTube.
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Canadian startup AmpMe has raised $8 million in a new funding round and added YouTube integration to its app which connects mobile devices into a networked speaker system.
Led by Relay Ventures an including Investissement Quebec, Slaight Music, OMERS Ventures, Townsgate Media, Anges Quebec and Real Ventures, this marks a total of $10 million in total financing.
AmpMe, which draws its tunes the users music library and Sundcloud, has also just added YouTube generation. It’s a nod to how many of the apps users consume music – for free via YouTube. More music services will reportedly be added in the coming months.
A quick demo