AR-powered virtual streaming platform TheCLUB.tv announces $600K seed round led by Silicon Valley VC fund Quiet Capital
London-based TheCLUB.tv, a new augmented reality (AR)-driven virtual streaming platform that gives DJs and music artists a simple way to stage fully-immersive virtual gigs and new ways to showcase their music to fans in the future, has secured $600K seed
London(14 Apr 2021)
London-based TheCLUB.tv, a new augmented reality (AR)-driven virtual streaming platform that gives DJs and music artists a simple way to stage fully-immersive virtual gigs and new ways to showcase their music to fans in the future, has secured seed funding from a Silicon Valley venture capital fund.
The investment of $600K at an undisclosed valuation, comes from Silicon Valley venture capital fund Quiet Capital, which has a successful record of backing and scaling up technology, e-commerce and automation companies.
Quiet Capital supports TheCLUB.tv’s vision of reinventing live music experiences for electronic dance music (EDM) fans anywhere as well as creating new commercial opportunities for artists and labels deprived of gig revenues during lockdown.
These breakthroughs are achieved using the company’s AR-powered virtual gig streaming platform that transforms fans’ ability to engage with live-streamed music and people’s wider expectations of what online concert experiences can deliver.
Quiet Capital partnership includes the founders of leading US startups, including the Karma and Tapjoy m-commerce platforms and high-growth proptech startup, LendingHome. They are joined by entrepreneur Edward Lando, a founding board member in leading companies like Misfits Market, Atom Finance, and Goody.
Market research already indicates that even before Covid, music fans were seeking alternatives to physical gigs with 760 million music fans worldwide unable to afford live music tickets or the time to attend concerts. Data also show that two out of five 13-37-year-olds watch up to an hour of streamed music daily and two-thirds of video viewers are more likely to buy a concert ticket having previously seen the artist on a live stream.¹
TheCLUB.tv was set up in August 2020 by entrepreneurs and EDM fans Udaya Sharma, Jaiten Gill, and Thevindu Edirisinghe. Their platform lets artists program customised AR effects track-by-track into their gig’s video stream. Fans also appear on screen in the stream and party with the rest of the crowd, video chat with their friends and the DJ, and break off into pre-booked private rooms.
TheCLUB.tv has already hosted exciting and innovative gigs by top 100 DJs Burak Yeter and MATTN. Globally-renowned DJ and producer Nicky Romero is next to wow EDM fans on Saturday, April 17th.
Udaya Sharma, CEO of TheCLUB.tv, said: “We’re very excited that Quiet Capital, with its record of supporting game-changer startups, has backed our mission of reinventing live music for a broken market – and enabling the growth of hybrid live video and physical events that are emerging for a post-Covid future.
“People already love using filters on Snapchat and Instagram and with our unique platform, the DJs control the gig experience and apply AR effects to fans and themselves, to create a more immersive and engaging video-streamed concert. We are putting EDM fans back where they belong – at the heart of the virtual gig.”
David Greenbaum, partner at Quiet Capital, said: “We’re delighted to support TheCLUB.tv’s aim of democratising live music in the pandemic and beyond. For too long, there have been price, location, time and effort barriers that discourage a global audience of Millennial music fans from going to EDM and other concerts. TheCLUB.tv is making it easier for fans anywhere to talk to and cheer on their favourite DJs and artists.”
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About TheCLUB.tv
TheCLUB.tv is a new augmented reality (AR)-driven virtual streaming and gig management platform.The company was set up in London in 2020 by three music entrepreneurs and EDM fans: Chief executive Udaya Sharma, an entrepreneur who was previously at Deutsche Bank, started the company and brought in Thevindu Edirisinghe, (ex-Sony and Universal Music and founder of the Flick technology startup), and Jaiten Gill, (founder of the Vanish startup), as part of the founding team. All the founders want to give EDM DJs better virtual music staging options and music fans more immersive and engaging gig experiences during lockdown and beyond.
About Quiet Capital
Quiet Capital is a diversified investment firm investing across multiple asset classes. They are here to help leaders start, build, and scale the best companies of tomorrow. Their $1b+ investment track record started ~10 years ago in venture capital and has accelerated across a wide-range of leading technology-related investments. Their strategy is to deliver strong returns across asset classes with our authentic brand, powerful network, and scalable model.
Media enquiries: Mark Walker, Burway PR, Tel: + 44 7886 551703. mark.walker@burwaypr.co.uk