# Opulous

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

- Industry: Financial Services
- Headquarters: Singapore, Singapore
- Website: www.opulous.org
- Total disclosed funding: $1.5M
- Latest round: Seed (Feb 1, 2021)
- Investors on record: 4

## About

Based in Singapore, Opulous is a peer-to-peer platform that enables artists in the music industry to tokenize their music rights, facilitating innovative funding solutions through fractional ownership.Opulous is a platform focused on providing financial solutions for artists in the music industry. Founded in 2020 in Singapore, the company has completed one deal, with its most recent funding round being a Seed round in February 2021, raising USD 1.5 million from investors including Borderless Capital, Kosmos Ventures, SOMESING, and TrustVerse. The company was founded by Miles Carroll, while Lee Parsons currently serves as the CEO.Opulous specializes in providing innovative AI and blockchain solutions tailored specifically for artists within the music industry. Their core offerings include a platform that enables artists to tokenize their music rights, allowing them to raise funds through fractional ownership. By leveraging blockchain technology, Opulous ensures transparent and secure transactions, catering to both emerging and established artists seeking to finance their projects. Their services address common challenges faced by artists, such as funding and rights management, enabling them to gain more control over their creative outputs. The company's solutions serve a diverse clientele, including musicians, music producers, and record labels, primarily operating in North America, Europe, and parts of Asia where there is increasing demand for innovative financial solutions in the music industry.Opulous generates revenue through transaction fees associated with the sale of tokenized music rights and subscription services for artists utilizing their platform. In 2022, the company reported zero revenue and an EBITDA of USD -1,052,520. The revenue model includes B2B partnerships with music producers and record labels, which enhances its market reach. Additionally, Opulous may implement tiered subscription plans for artists seeking access to premium features and tools for token management and marketing. Each transaction and subscription is structured to foster a sustainable ecosystem that benefits both artists and investors, emphasizing the company's commitment to empowering the music community.Following the Seed funding raised in February 2021, Opulous plans to utilize the funds to enhance its platform and expand its market presence. The company is exploring the development of new tools aimed at improving artist-funding mechanisms and intends to launch these products within the next 12-18 months. Furthermore, Opulous plans to expand into new markets, specifically targeting the Asian and European regions by the end of 2023, to capitalize on the growing demand for financial solutions in the music industry.

## Funding rounds

- Seed, Feb 1, 2021, $1.5M — Kosmos Ventures, Borderless Capital, TrustVerse, SOMESING

## Investors

- Kosmos Ventures (https://capitalatlas.ai/funds/kosmos-ventures) — Seed
- Borderless Capital (https://capitalatlas.ai/funds/borderless-capital) — Seed
- TrustVerse — Seed
- SOMESING — Seed