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Magroove operates as a dual-sided platform, providing independent musicians with digital distribution services and offering a proprietary AI-powered music discovery application to listeners. The company facilitates the release of artists' music across major streaming platforms and digital stores, while its complementary app leverages artificial intelligence to curate personalized music recommendations, enabling users to efficiently find new songs and emerging talent. This integrated approach addresses both the promotional needs of artists and the discovery habits of a modern music audience.
The company was founded in 2018 by Vítor Cunha, who serves as CEO, and Fabrício Schiavo. Their collaborative effort was driven by the insight that independent artists often face barriers in reaching broader audiences, alongside a growing demand from listeners for more personalized and diverse music discovery experiences beyond mainstream offerings. Cunha and Schiavo envisioned a solution that democratizes access to the global music market for creators.
Magroove serves a diverse global base of independent artists seeking to expand their reach, as well as music enthusiasts actively searching for fresh sounds. The company's vision centers on fostering a vibrant ecosystem where artistic talent can thrive without traditional gatekeepers, connecting creators directly with listeners and continually refining the way music is discovered and shared.
Magroove has raised $2.0M across 1 funding round.
Magroove has raised $2.0M in total across 1 funding round.
Magroove is a São Paulo, Brazil-based technology startup that serves as a one-stop platform for independent musicians, enabling them to distribute music to global platforms like Spotify and iTunes, access analytics, and monetize their work through affordable services.[1] It also operates a music-discovery app powered by machine learning for personalized recommendations, targeting indie artists and users worldwide, with over 850,000 artists and users across 196 countries as of its 2023 funding round.[1][4][5] The platform solves key pain points for creators by offering free entry-level distribution—taking only the first $5 of annual earnings per release—combined with easy uploads, moderation monitoring, performance analytics, and quick payouts via PayPal, driving growth in artist sign-ups and monthly revenue through 2021.[1]
Magroove was founded in 2019 by João Cunha, a music producer and audio engineer, and Fabrício Schiavo, a mechatronics engineer with a tech background, who collaborated on the concept for several years prior.[1] Cunha's industry experience highlighted the need for accessible tools for indie artists, leading to a platform that prioritizes simplicity and affordability in music distribution and discovery.[1][2] Early traction came quickly: the company closed its first investment round in 2020 and raised $1.6 million in seed funding in 2023 from Brazilian VC firm DOMO Invest, fueled by its global reach, scalability, and focus on independent creators.[1]
Magroove rides the wave of the creator economy and democratization of music distribution, where streaming platforms have lowered barriers but left indies underserved by high fees and complexity.[1] Its timing aligns with explosive growth in independent music—global streaming revenues hit record highs post-2020—empowering artists in emerging markets like Brazil and beyond to bypass traditional labels.[1][5] Market forces favoring it include rising demand for AI-driven discovery amid content overload on Spotify/iTunes and VC interest in scalable, low-cost fintech-music hybrids, as seen in its DOMO Invest backing.[1] By scaling to 850,000 users across 196 countries, it influences the ecosystem by amplifying underrepresented creators, fostering a more diverse global music catalog.[1][5]
Magroove's post-$1.6M funding positions it for aggressive expansion, likely enhancing AI recommendations, entering new markets, and deepening integrations with streaming giants to boost payouts and discovery.[1][5] Trends like AI personalization, Web3 royalties, and Latin American tech booms will shape its path, potentially growing its artist base beyond 1M while competing with DistroKid or TuneCore on price.[1] Its influence could evolve from niche indie enabler to major player in equitable music tech, tying back to its core promise: empowering creators to thrive independently in a streaming-dominated world.[1][2]
Magroove has raised $2.0M in total across 1 funding round.
Magroove's investors include DOMO Invest, Redpoint eventures.
Magroove has raised $2.0M across 1 funding round. Most recently, it raised $2.0M Seed in April 2023.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Apr 1, 2023 | $2M Seed | — | DOMO Invest, Redpoint Eventures | Announced |
