Luxembourg-based AIVA, an AI technology composing “emotional soundtracks” for films, video games, tv shows and commercials, has raised €1.5 million from NetEase, a Chinese internet company that operates one of the largest music streaming services and gaming businesses in the country.
The artificial intelligence platform composes music in a variety of genres, ranging from symphonic to electronic, jazz, pop, rock, and ambient music. Founded in 2016 by Denis Shtefan (CTO), Pierre Barreau (CEO) and Vincent Barreau (COO), the team consists of ten musicians and engineers from eight different countries. The startup previously raised €650,000 in late 2017.
“We started discussions with NetEase in December 2019. Their teams contacted us to discuss a collaboration for one of their new products in China and coincidentally, the discussion led to them investing in our company,” said the CEO.
With the new funding, AIVA plans to expand its development team, invest in international growth, and collaborate with NetEase on new products for the Chinese market.
Photo: The Barreau brothers, Pierre (CEO) and Vincent (COO), by Anna Katina