Music industry

SONGISTRY RAISES $5M, POSITIONING IT TO BE THE MUSIC INDUSTRY’S LEADING AI-POWERED MUSIC LICENSE SEARCH ENGINE

Shipyard Inc.

MDIIO

MDIIO

hyprAUDIO.com

hyprAUDIO.com

Songistry Inc., an AI-powered music technology company, is pleased to announce the closing of a $5,000,000 fundraising round.

As a fully funded company, we plan to invest this capital directly into our intellectual property and development roadmap, including our flagship MDIIO platform as well as our newest product hyprAUDIO.

— Justin Gray, Founder and CEO

LOS ANGELES, CALIFORNIA, USA, June 9, 2022 /EINPresswire.com/ — Songistry Inc. (“Songistry” or the “Company”), an AI-based music technology company, is pleased to announce the closing of a call for tenders for a USD 5,000,000 capital increase. The financing was based on a pro forma valuation of US$20 million. This investment will allow Songistry to advance the company’s growth strategy, enabling it to become one of the key forces in the music synchronization licensing industry.

“This significant investment comes at a pivotal time,” said Justin Gray, Founder and CEO of Songistry. “As a fully funded company, we plan to invest this capital directly into our intellectual property and development roadmap, including our flagship MDIIO platform as well as our newest product hyprAUDIO. We will expand our mission by applying AI to redefine and disrupt the way music is discovered and licensed for film, TV, games and UGC We will also immediately explore various M&A opportunities in music and technology to enhance our current range of services.”

This round of funding is another milestone that will accelerate Songistry’s growth and innovation throughout 2022 and beyond.

ABOUT THE SONG

Songistry is an AI-powered, data-driven music technology company that aims to provide the best virtual and online tools for the entire music industry through its suite of services. Songistry products include: MDIIO (pronounced MID-ee_oh), MDIIO/U, MDXO, and the recently released hyprAUDIO licensing engine. hyprAUDIO is the first AI-powered search engine designed exclusively to connect music buyers and sellers with the express purpose of facilitating music discovery, licensing and monetization of music for TV/movie , advertising and games. Songistry currently supports music creators and libraries around the world with over 100,000 copyrights ready to be licensed.

MEDIA CONTACT:

Ryan Maule Vice President, Strategy and Operations
[email protected]

INVESTOR CONTACT:

RB Milestone Group LLC
[email protected]

www.mdiio.com
www.hypraudio.com
www.songistry.com


CAUTION REGARDING FORWARD-LOOKING INFORMATION:

Certain statements in this press release, including statements or information containing terms such as “anticipate”, “believe”, “intend”, “expect”, “estimate”, “may “, “could”, “will” and similar expressions constitute “forward-looking statements” within the meaning of applicable securities laws. All statements, other than statements of historical fact, that address activities, events or developments that we or a third party expect or anticipate will or may occur in the future, including our growth future, our results of operations, our performance and our business prospects and opportunities are forward-looking statements. These forward-looking statements reflect the Company’s current beliefs and are based on information currently available to the Company. These statements require the Company to make assumptions it believes to be reasonable and subject to inherent risks and uncertainties. Actual results and developments may differ materially from the anticipated results and developments discussed in the forward-looking statements, as some of these risks and uncertainties are beyond the Company’s control.

Accordingly, any forward-looking statements made in this press release are qualified by such cautionary statements and other cautionary statements or factors contained herein, and there can be no assurance that actual results or developments will be achieved or, even they are substantially realised, they will have the expected effects on the luff. These forward-looking statements are made as of the date of this press release. Except as required by applicable securities laws, the Company undertakes no obligation to publicly update or revise any forward-looking statements to reflect subsequent information, events or circumstances.

Ryan Maule
Shipyard Inc.
+1 416-417-0868
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