Hitlantis Gets $1.5M Funding
Indymusic discovery platform from Finland, Hitlantis, this week closed a substantial angle round worth $1.5M. The team of investors include senior Nokia executives, JSH Capital Oy, Hasan & Partners, PM Ruukki Oy, Notion Oy, Rock Island Investment Oy, T&T Enterprises Oy, as well as other private individuals from the media and telecom sectors. The new funds will be used for product development and market expansion in 'key territories'. What those territories include was not stated but one can guess US is one of them. Asia is the other: Hitlantis recently launched a localized version of their service in South Korea and hinted that other markets would be opened soon. Moreover, unofficial sources claim the company plans a series A round of up to $7M for the fall.
Hitlantis Looking To Enable Better Content Discovery
Reporting from the second day of MoneyTalks, being held here in Otaniemi, Espoo, Finland I bumbed into a new innovative music startup called Hitlantis. I talked to one of the co-founders Timo Poijärvi about the concept and what they are doing. Poijärvi has worked in the music industry and with some startups before, but has a strong experience from the ways the music industry works. This showed up in our talks and he openly questioned the need of Teosto (Finnish Composers' Copyright Society) and record labels for musicians. The future is about the community around the artists.
