Swedish VC Industrifonden has led a $6m early-stage round for Stockholm-based music and audio creation platform Soundtrap.
The funding round saw participation from Soundtrap's existing backers, as well as new business angels, including former Spotify CFO and COO Peter Sterky. The investment brings the total amount raised to $8.5m.
With the fresh funding in hand, Soundtrap plans to support product development and expand into new markets.
Founded in Stockholm in 2012, Soundtrap is a cloud-based music and audio creation and collaboration platform.
The application is available across multiple devices and platforms, in both consumer and education versions.
Industrifonden – Malin Carlström (investment manager).
Soundtrap – Per Emanuelsson (co-founder, CEO).
Backers include Florence-based venture capital house Sici
Scottish oil & gas business formerly known as Oteac has rebranded and appointed a new CEO
Funding round backers include Invitalia Ventures, Pricipia and existing investor TIM Ventures
Investors are taking over from previous investor MBO Partenaires