[Spain] The music streaming service Rockola.fm has secured €1.5 million of additional funding, reports Loogic.
The new round comes from investment bank Caja Navarra (CAN), Cabiedes & Partners, which invests in early-stage companies, and Jesus Encinar, a previous investor in Rockola, among others. We understand that this now takes the startup’s total funding to just over €2m.
Of note, it’s only the second investment in an Internet startup by CAN after its involvement with cloud computing startup Abiquo.
Rockola, which competes locally with Yes.fm, as well as European players such as Spotify, is a music streaming service and recommendation service with an emphasis on listening ‘moods’ and music decades. Users can also search by track name and tags. As with similar offerings, Rockola attempts to learn a user’s musical tastes and fine tune those recommendations the more they use the service.
Founded just over a year and a half ago, Rockola claims 400,000 users and is available as a web-based version and dedicated iPhone app.