Photograph Credit score: SonoSuite
SonoSuite pronounces a minority funding from Dinastía to drive strategic progress.
Barcelona-based music tech firm SonoSuite pronounces the addition of a key strategic shopper as investor, Dinastía Inc, from Colombia. Dinastía says it has a robust industrial curiosity and a strategic match with SonoSuite’s core exercise; it’s already a ‘valued shopper’. The partnership is anticipated to reinforce distribution alternatives for all events and additional reinforce their collaborative relationship.
Dinastía is firmly plotted within the city music area, with a watch in the direction of increasing its presence within the Latin American market and making them companions for SonoSuite. The funds raised from this funding will likely be used to drive progress initiatives, and Dinastía will maintain a minority stake in SonoSuite.
“We’re glad to welcome this strategic investor who supplies precious business insights, as a part of our cap desk. On the similar time, the founders retain a considerable majority of shares and maintain management over the corporate,” mentioned Sebastián Mañana, CEO of SonoSuite.
SonoSuite is a software program as a service firm that operates a white-label platform that allows indie document labels and music distributors to ship their catalogs, and handle royalty payouts and experiences. Its companions embody SoundExchange, Merlin, PPL, IFPI, and Worldwide Unbiased Community (WIN).
The corporate joined the ‘Buddies of Impala’ initiative in 2023, designed to facilitate collaboration between corporations and the impartial music sector.
SonoSuite is increasing its enterprise at a key second, as impartial artists are seeing rising market share. The corporate is competing to supply providers inside an more and more aggressive subject of digital indie distributors, together with mainstays like Distrokid and Tunecore.
To that finish, Common Music Group accomplished its acquisition of European impartial music group [PIAS] earlier this month. That acquisition consists of [Integral], which is able to merge with UMG’s Virgin Music Group.
