Music technology company receives £250k boost from North West Fund

Cheshire-based big-data music technology firm Beatroot Music Ltd has received a six-figure venture capital boost from the North West Fund for Digital & Creative.

The company plans to use the £250k investment to take on new members of staff, improve infrastructure and expand its services in the music industry.

The firm’s product director and co-founder, Chris Garrett, said: “We are delighted to receive the investment from The North West Fund. Like us, they believe that after 10 years of tough times, the music industry is now entering an exciting period of growth.

“Doug Morris, CEO of Sony Music, was recently quoted as predicting that the music sector will make a full recovery back to the $30bn industry it was in 2005.”

He added: “We’re looking forward to working with our clients and partners to be part of this rapid growth.”

AXM Venture Capital manages The North West Fund for Digital & Creative, which is financed by the European Investment Bank and the European Regional Development Fund.

AXM’s investment manager, Rupert Wingate-Saul, said: “The Beatroot team have a strong track record of creating innovative solutions that solve industry-specific problems.

“When looking for investments we like to find solutions which will become part of their clients’ daily workflow. We believe the Beatroot platform will achieve this goal.”

Beatroot Music, which operates from Macclesfield, is the creator of Beatroot, a digital platform that processes track catalogues, extracts data and uses information from third-party sources to help companies like record labels make more money from their music.

The platform went through beta testing with record companies Universal Music Group, Woodwork Music, Domino Records and Sentric Music.

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