TuneWiki Lands Investment From Motorola
Social media music player TuneWiki has received an undisclosed amount of funding from Motorola Ventures, the strategic investment arm of Motorola.
Other new investors of TuneWiki include Intellect Capital Ventures, a venture fund initiative of TeliaSonera, HillsVen Capital, and Novel TMT. TuneWiki’s previous venture capital investor, Benchmark Israel, also participated in the round.
"Teaming up with a global company like Motorola is very exciting for us," said Rani Cohen, CEO of TuneWiki.
"We are passionate about connecting people through music, and having our applications running in many countries with different languages will allow our users to explore the world of music and better understand its meaning as part of a vibrant and engaged community."
TuneWiki said it will use the investment to expand and improve its product offerings fro mobile platforms and the Internet. The company says it plans to focus on new features found in recently released smartphones, including stronger CPUs, larger displays and high-resolution screens. TuneWiki said it will also continue to focus on the use of song lyrics in new ways that connect music fans with new products, including an upcoming mobile game.
"Music is rapidly emerging as a key feature for smartphones, and TuneWiki is changing the experience of listening to music from a solitary experience to a social one," said Reese Schroeder, managing director of Motorola Ventures.