trac, a Los Angeles, CA-based music-tech company, closed a $2.5m pre-seed funding round.
The round was led by Lagos, Nigeria-based Zrosk Investment Management, with participation from AppWorks, InfinityVC, Calm Company Fund, Dapper Labs, as well as key angels including Roham Gharegozlou and Siqi Chen.
The company will use the funding to scale the business and increase its market reach while expanding its engineering and operations teams.
Founded in 2020 by Cardin Campbell, trac provides an artist monetization platform. It enables artists to monetize and manage every aspect of their careers. The company first launched by giving artists free music distribution on platforms such as Spotify, Apple Music, Youtube, and Tidal—and is adding on other integrated products to create an artist stack, bridging Web2 and Web3. trac will soon begin creating decentralized autonomous organizations (DAOs) for artists that will run on their own unique artist tokens that incentivize engagement.
FinSMEs
20/04/2022