Aimi, an artificially intelligent music platform powered by AI, has announced that it has raised $20 Million in Series B funding. This round was led by Great Mountain Partners. The round also included participation by Founders Fund an investment company and backer of SpaceX as well as Spotify.
The Austin-based startup will next invest on revamping its operating system with new programming language, more tools for artists and producers and working on the platform’s mobile app. Aimi+, a premium service that will be offered to subscribers, was initially launched as a free product. Artists who use the platform will be able to receive royalties and revenue.
Aimi claims to be a personalized music streaming platform. It instead offers personalized music, curated by AI and artist recommendations. Recent producers and partners who have joined are Cassy and DJ BORING, Max Cooper, Soul Clap, and Max Cooper. The electronic music compositions can be based on the moods of users. “experiences”Including serenity, flow and chill.
“When we founded Aimi we saw an opportunity to elevate the art of music with the science of technology,”Edward Balassanian, president and CEO. “Now, after signing hundreds of artists and releasing world class music experiences that take listeners on a journey crafted by some of the top creators in the world, we are ready for the next chapter. With the investment from Great Mountain Partners and Founders Fund, we can now make the vision of computational music accessible to tens of millions of creators around the world.”
Balassanian founded the company in 2019, a tech veteran who also established a startup BeComm Corporation as well an incubator called Endanik.