# Sound.xyz

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/sound-xyz

- Industry: Software
- Headquarters: San Francisco, US
- Website: www.sound.xyz
- Total disclosed funding: $25M
- Latest round: Series A (Jul 12, 2023)
- Investors on record: 13

## About

Sound.xyz is a US-based platform that serves the electronic dance music community by enabling artists to mint and distribute their music as non-fungible tokens (NFTs), fostering direct artist-fan engagement and ownership.Founded in 2021 and headquartered in San Francisco, US, Sound.xyz provides a platform for music creation and distribution. The company, co-founded by David Greenstein and Vignesh Hirudayakanth, has secured a Series A funding round on July 12, 2023, raising USD 20.00 mn led by Andreessen Horowitz. This funding round included participation from notable investors such as A Capital, Coinbase Ventures, and Sound Ventures. The company has successfully completed two deals to date, with a total amount raised of USD 20.00 mn and a current valuation of USD 135.58 mn.Sound.xyz offers a unique platform tailored for the electronic dance music (EDM) community, providing tools for musicians and fans to create, share, and engage with music through NFTs. Its services enable artists to maintain ownership over their creations and receive direct compensation, while fans gain authentic access to their favorite artists. The platform serves a diverse clientele, including both emerging and established EDM musicians, as well as music enthusiasts and collectors in North America and Europe.Sound.xyz generates revenue primarily from minting and transaction services pertaining to music NFTs, where artists and users can buy, sell, and trade music assets. The revenue model includes a commission structure on transactions, facilitating exchanges between creators and their audience. Additionally, collaborations with artists and record labels may enhance revenue through exclusive releases, supporting both direct-to-consumer and B2B sales.Following the Series A funding round in July 2023, Sound.xyz plans to utilize the USD 20.00 mn raised to enhance its platform and expand its service offerings. The company aims to develop new tools tailored for artists and fans, aiming for a rollout in the next year. Additionally, Sound.xyz is targeting expansion into new markets within Europe and Asia by late 2024, seeking to broaden its reach in the global music ecosystem.

## Funding rounds

- Series A, Jul 12, 2023, $20M — Andreessen Horowitz, A Capital, Collaborative Fund, Sound Ventures, Crush Ventures, Scalar Capital, Coinbase Ventures, Palm Tree Crew Investments, Archetype, Coop Records
- Seed, Dec 15, 2021, $5M — Andreessen Horowitz, Weekend Fund, Scalar Capital, Variant, Flamingo DAO, LLC

## Investors

- Andreessen Horowitz (https://capitalatlas.ai/funds/andreessen-horowitz) — Seed, Series A
- Weekend Fund (https://capitalatlas.ai/funds/weekend-fund) — Seed
- Scalar Capital — Seed, Series A
- Variant (https://capitalatlas.ai/funds/variant) — Seed
- Flamingo DAO, LLC — Seed
- A Capital (https://capitalatlas.ai/funds/a-capital) — Series A
- Collaborative Fund (https://capitalatlas.ai/funds/collaborative-fund) — Series A
- Sound Ventures (https://capitalatlas.ai/funds/sound-ventures) — Series A
- Crush Ventures (https://capitalatlas.ai/funds/crush-ventures) — Series A
- Coinbase Ventures (https://capitalatlas.ai/funds/coinbase-ventures) — Series A
- Palm Tree Crew Investments (https://capitalatlas.ai/funds/palm-tree-crew-investments) — Series A
- Archetype — Series A
- Coop Records (https://capitalatlas.ai/funds/coop-records) — Series A