Mincoffs support Music and App developer07/05/2020
The award winning corporate team at Mincoffs Solicitors has helped a leading music technology company raise a 6 figure investment to help it develop its apps and expand its business.
The funding round for Rap Tech Studios Limited came from Rooks Nest Ventures, an investor in early-stage technology companies operating in the media space, plus additional funding from Plus 8 Equity, a New York based existing shareholder investor and media expert.
Founded in 2016 by Alena Golden, Daniil Patapau and Dzmitry Bahdanovich, Rap Tech Studios are building lasting platforms for rap music fans, using the latest advancements in music technology to create a suite of apps that inspire and support artists across the world to unleash their musical talent via online competitions and battles.
The funds will be used to develop further applications, expand the business and to create new media and support features for users and artists. Alena said: “We are all living in incredibly challenging times at the moment and music is a beating heart of inspiration for many people across the world, bringing us all together. Over 5 million rap artists and hip hop enthusiasts have already downloaded our apps, and we’re excited that our recent investment will allow us to keep growing rapidly and implement new and innovative ideas for our community”.
Mawuli Ladzekpo, partner at Rooks Nest Venture, commented that “We’re delighted to be partnering with Rap Tech Studios and supporting their journey. The team has effectively harnessed their passion for hip hop and the latest advances in music technology to build a platform that inspires and enables people to express themselves creatively. We’re very excited by the thriving and highly engaged community of music creators and fans that they’ve established, and are looking forward to helping them accelerate their growth.”
Peter Robinson, corporate partner at Mincoffs Solicitors, said “We’re really pleased to have been able to help Alena and the business over the last couple of years – they are an impressive team and the new investment will help them extend their digital reach even further.
“Music is very important to many of us – absolutely so in the current crisis – and it simply great to be part of the journey of a business which is growing, entertaining and helping musical artists flourish too”.