Funding round completed
Mxp4 Interactive Music completed its first round funding, raising €6.5 million from Sofinnova Partners and Ventech, for the further development and commercialisation of its platform technology for distributing music.
The Paris-based company was founded in June 2006 by three music buffs, Sylvain Huet, Philippe Ulrich and Gilles Babinet, around an interactive standard for composing and distributing music, and listening whilst on the move.
Mxp4 Interactive Music threatens to “disintermediate” record companies by allowing musicians to compose, record and distribute their own work, while promising those downloading their efforts a superior listening experience – akin, it is said – to being at a live concert.
The company says the service will be available over mobile phone networks, on PCs and MP3 players.
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