UK music tech firm Pirate Studios has secured a strategic investment of $20m from London-based Talis Capital.
The Bristol UK-based company operates fully automated self-service 24-hour music studios.
Pirate has built a platform that offers online booking, 24-hour keycode access, automated recording and live streaming as well as complete IoT control of their studios.
The company has also raised money from various high-profile investors including Eric Archambeau (Spotify investor and ex partner at Benchmark & Wellington Partners), Bart Swanson of Horizons Ventures, and partners of Gaw Capital, the $20bn Hong Kong-headquartered creative proptech fund.
Pirate operates 350 studios in 21 locations including London, New York and Berlin and plans to use the investment to fund its expansion across the UK, Germany and the US.
“We are building both the physical space to create, as well as the technology to record and share, that puts power back into the hands of musicians.”
David Borrie, Pirate Studios
David Borrie, co-founder and CEO of Pirate Studios, said: “When we founded Pirate Studios our dream was to create innovative spaces to support emerging talent. We want to see music thrive and help musicians get their music out to their fans, through whatever route they think is most appropriate.
“We are building both the physical space to create, as well as the technology to record and share, that puts power back into the hands of musicians in a period when the digitisation of music continues to radically upset the old order of this industry.”
“We are so excited about the next stage of our expansion, which has been made possible by Talis Capital’s big commitment to this project, with the potential to put musicians back at the heart of the music industry.
“It’s also exciting to see so many new investors come on board with Talis and to help us with the next stage of our journey.”
“We greatly look forward to continuing to partner with David and the team.”
Matus Maar, Talis Capital
Matus Maar, managing partner ventures, Talis Capital and executive chairman of Pirate Studios, added: “The music industry has changed fundamentally. Distribution was previously controlled by the major record labels, preventing the majority of artists from sharing their content.
“Pirate Studios has unpicked that hegemony and is putting the power back in artists’ hands, unlocking a significant and largely untapped market opportunity.
“We greatly look forward to continuing to partner with David and the team to make this vision a reality.”Music Business Worldwide