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Byta secures $1.9 million in seed funding
By Chris Cooke | Published on Monday 15 June 2020
Pre-release music sharing platform Byta last week announced a new $1.9 million round of seed funding led by the Canada Media Fund. The new finance will be used to further expand and develop the company that now describes itself as “the platform for music before it’s on streaming services”, and will also allow further investment in the firm’s not-for-profit HowWeListen education programme.
Explaining the rationale for pursuing the funding round now, having launched the company in 2015, Byta’s CEO Marc Brown told reporters: “We built Byta from the ground up. It’s the same advice I give to artists: Get everything in place yourself first, make sure you are ready, then look for outside help. Byta is ready”.
Alongside the Canada Media Fund are a number of private investors, including musician Scott Kannberg, a founder member of both Pavement and Preston School Of Industry.
Explaining his support for the business, he said: “In the old days, I would share my music with others via cassette tape or a CDR. It would take hours and lots of postage! Today, with Byta, I can share my music with bandmates, labels, promoters, writers, DJs and so on in one click. I haven’t found anything as easy and digitally sound as Byta, which is why I invested”.
