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– Verswire, a venture capital music startup founded by Veeps founder/COO Sherry Saeedi, Mark Hoppus of Blink-182, and Nick Lippman of Lippman Entertainment, raised $12.3 million in seed and Series A funding.
– Verswire also announced the launch of a new publishing arm in partnership with Kobalt Music Group.
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Verswire, a venture capital music startup co-founded by Veeps founder/COO Sherry Saeedi, Mark Hoppus of Blink-182, and Nick Lippman of Lippman Entertainment, has raised $12.3 million in seed and Series A funding. The investment was led by E.O.A. Productions and idobi Radio, along with Warped Tour founder Kevin Lyman and Foo Fighters tour manager Gus Brandt. The company also announced the launch of a new publishing arm in partnership with Kobalt Music Group.
Verswire aims to be a development incubator for emerging and established artists, offering custom investments tailored to each artist’s specific needs. The company provides funding, resources, tools, mentoring, support from music executives, and an ecosystem for artists to operate their businesses while maintaining majority ownership of their masters.
With the funding, Verswire plans to further develop its artist development program and expand its roster of signed artists. The company has currently signed two artists: Beauty School Dropout and alt-rock duo Girlfriends.
In addition to Verswire, several other music-related deals were announced this week:
– Indigo Girls documentary “Indigo Girls: It’s Only Life After All” has found a distributor in Oscilloscope Laboratories. The film, which premiered at the 2023 Sundance Film Festival, will receive a theatrical release in the spring.
– BMG has acquired majority shares of French pop singer Alain Chamfort’s catalog, including 13 albums and his biggest hits.
– BMG has also increased its interest in Berlin band NENA’s catalog, including the hit song “99 Luftballons,” by acquiring singer Nena’s U.S. recording copyright and ROW artist royalties.
– Iron Horse Acquisitions Corp., a special purpose acquisition company (SPAC), has raised $69 million in an initial public offering. The company focuses on media and entertainment deals and plans to target verticals such as music rights aggregators, production studios, talent management, and more.
– TRINITI, a generative artificial intelligence platform, has partnered with music production platform SOUNDS.STUDIO to provide an in-browser music and audio AI tool for creating and distributing music.
– LyricFind, a lyrics licensing and data solutions company, has acquired technology company Rotor Videos, which makes it easier for artists and labels to create video content for digital platforms.
– ADA Worldwide has struck a distribution partnership with record label Omnivore Recordings, covering the label’s entire catalog and new releases.
– Kx Family Care, a CBD-enriched personal care product line, has partnered with Colombian hemp and cannabis producer One World Products to produce and distribute their products in Colombia and Latin America.
– KIDZ BOP has struck an exclusive apparel licensing deal with IHL Group, with an all-new KIDZ BOP apparel line set to launch in North American retailers later this year.
These deals reflect the ongoing entrepreneurial activity and growth in the music industry, with a focus on artist development, catalogs, technology, and international partnerships.
