Music tech startup secures six-figure funding to launch AI music mixing tool

London based Setmixer, a platform that allows artists to record and mix their live performances with studio quality, announced today that it raised $760k (approx. £596k) in funding in a seed round led by Raw Ventures.

The proceeds will be used to launch their AI-assisted mixing process, which creates a perfect result for instant releases and prevents live performances from being lost for life.

The startup creates the unique opportunity for live performances to be recorded in full multitrack studio quality and mixed through their instant automix process. Its smart recorder is permanently connected to the mixing desk of partner venues, ensuring that every performing artist is captured in up to 64-channel studio quality.

In 2023, Setmixer recorded over 10,000 hours of live music in full multitrack studio quality, equivalent to 1.15 years. The company was founded by Pascal de Mul, who brings extensive experience from multiple media juggernauts, including Spotify and Deezer.

The launch addresses a significant challenge in the music scene, which is the transience of performances. PwC found that music in physical formats is in decline, and revenue will continue on a downward trend. Meanwhile, music available in digital formats will increase its share of recorded music revenue, rising from 74.3 per cent in 2022 to 80.7 per cent in 2027.

A new report from StubHub found that 60 per cent of Gen Zs would skip a major life event, a friend’s wedding, the birth of a new family member, if they could be front row for their favourite artist’s concert.

Setmixer aims to empower artists and record labels to generate future revenue while allowing fans, both those in attendance and those not present for the original performance, to experience the “magic” of the live set, and the energy of songs played live.

Pascal de Mul, founder and CEO of Setmixer, commented: “This milestone is a testament to the unwavering dedication of our remarkable team at Setmixer, and it’s also a nod to the extraordinary community of artists who have played their hearts out for their fans in 7.4 million live music performances worldwide.

“Our mission continues: to bring Setmixer’s live music recordings to every venue in the UK and beyond, empowering artists to share their performances effortlessly.”

Victoria Palatnik, managing partner at Raw Ventures, added: “Our commitment to the winner of the first Global MediaTech Pitch Day, selected from a pool of over 400 startups from 45 countries, is rooted in a shared vision of harnessing technology to foster deeper connections between artists and consumers.”

By Matthew Neville – Senior Correspondent, Bdaily

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