# Magroove

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/magroove

- Industry: Software
- Headquarters: Sao Paulo, Brazil
- Website: www.artists.magroove.com
- Total disclosed funding: $1.6M
- Latest round: Seed (Apr 20, 2023)
- Investors on record: 1

## About

Established in 2019 and based in Sao Paulo, Brazil, Magroove operates as an online music distribution platform for independent artists. Fabricio Schiavo (COO) and Vitor Cunha (CEO) are the co-founders of the company. In April 2023, Magroove raised BRL 8 million in venture funding from Domo. As of 2023, the startup had over 750,000 artists and users registered on the platform from over 190 countries.

The company offers a variety of services to musicians, such as distribution, merchandising, and music recommendation, as well as assistance in promoting their music, building their brand, and getting payment for their labour. Spotify, iTunes, and Deezer are among the company's partners.

Magroove also offers a no-code website builder that enables musicians to construct a personalized website equipped with an electronic press kit (EPK) and other features. The company employs machine learning technology to select tunes depending on the profile and mood of users. The firm provides a merchandising store where artists can sell unique products and seek fan donations.

The organization plans to use the April 2023 funding to expand its product and brand development.

## Funding rounds

- Seed, Apr 20, 2023, $1.6M — DOMO Invest

## Investors

- DOMO Invest (https://capitalatlas.ai/funds/domo-invest) — Seed