Music Licensing App ‘Hoopr’ gets $1.5 Million in Seed Funding

Music licensing app ‘Hoopr’, which allows video creators and businesses to license royalty-free music for ads, videos, and films, has secured $1.5 million in a seed funding round led by 9Unicorns and Venture Catalysts.

The company said it will use the funds to strengthen its tech offerings, including an AI-enabled search engine for video creators, to find the right soundtracks. It will also utilize the funds towards building its library.


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The company said the market size of the creator economy is estimated to be $104 billion globally and over 50 million creators are creating content daily. Starting with sync licensing, a $3.7 billion market worldwide, Hoopr plans to monetise various aspects of the creator economy, with a focus on Indian creators. As per the International Federation of the Phonographic Industry’s Global Music Report, India’s recorded music industry grew by 18.7% to Rs1,277.6 crore in 2020.

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