tunesBag joins incubator in a sign music startups are coming back
The market for music is gaining traction with investors again and there is evidence that investments have nearly doubled in the last two years.
tunesBag just released some new features including images while listening to music and the Facebook “Like” button for artists to feed your friends with update on your favourite artists.
The Indie Music Tech site recently reported that this year’s first quarter music tech investments nearly doubled from the previous two years. The 25 deals in Q1 2010 outpaced the 27 total investments in the opening months of 2008 and 2009, althought the deal size was a little lower at $4.4 million per investment.
Among the largest have been Spotify’s undisclosed funding from Founders Fund, $20 million to Guvera and speaker manufacturer Sonos which secured $25 million from Index Ventures. Others include SeatGeek, Songbird, TuneWiki and BlogTalkRadio.