Social music player TuneWiki has raised an undisclosed amount of additional funding in a Series B round led by Motorola Ventures and joined by Intellect Capital Ventures, HillsVen Capital, Novel TMT and prior investor Benchmark Israel.
Update: The Marker (in Hebrew) says the investment totals $7 million.
TuneWiki says it will use the investment to expand its product offerings for mobile platforms and the Web.
The company will continue to focus on the use of song lyrics in new ways that connect music fans with new products, including an upcoming mobile game.
TuneWiki boasts apps for iPhone, Android, BlackBerry and Nokia handsets.
This is the second funding announcement for Motorola’s venture arm in a week – on Feb 2 the investor announced that it had injected extra capital into mobile barcode company Scanbuy.
TuneWiki is an award-winning social music player. TuneWiki has the largest legally-licensed lyrics database in the world. The technology behind TuneWiki combines subtitled lyrics with local music and internet streaming radio. Lyrics are translated into more than 40 languages making TuneWiki the global lyrics resource for music-lovers. TuneWiki also makes music social with community features that allow sharing of songs and lyrics. The TuneWiki community maintains the lyric database through editing, adding, syncing, and translating lyrics. The...
Motorola Ventures helps turn great new ideas into thriving businesses. They are not a lab, but like one, they are about discovery. They focus on opportunities that complement Motorola’s total business strategy. They evaluate “new idea companies,” the people and technologies behind them and the vision they bring. They identify cutting-edge technology investments that will help them to achieve the best solutions to fit their customers’ needs. Every investment is a strategic alliance encapsulated by vision, creativity, and business...
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