Turkish digital entertainment platform raises $2 million

The immense digitization during the coronavirus pandemic has entrenched certain habits, with many startups turning this trend into an opportunity to attract funding and meet the ever-increasing demand for new practices.

Turkish live digital music and entertainment platform Musixen is one such startup. The company managed to complete its second round of investment this week.

Dubbed the world’s first platform offering immersive interactive experiences of high-quality live music and entertainment, Musixen has raised $2m (TL 29.5m) at a valuation of $20m.

In addition to all of its existing investors such as Plug and Play and Re-Pie Portfolio, Musixen’s latest round has also been joined by Platform XIT, a London-based venture capital platform, and new angel investors.

The company is looking to use the funding to expand in Europe and the Middle East and North Africa (MENA) region.

Digitized live entertainment

Musixen is one of the most successful representatives of the Turkish venture capital ecosystem in recent times. The national company continues to act with the aim of digitizing the world of music and the stage.

Musixen is looking to use the latest funding to expand in Europe and the Middle East and North Africa (MENA) region. (Courtesy of Musixen)

It has succeeded in attracting capital from leading players such as Re-Pie, an asset management company that has marked the world of Turkish venture capital, in particular thanks to its recent investments, and Plug and Play, l one of the world’s largest technology funds, and finally added the London-based XIT platform.

Global Growth

Aiming to expand globally, Musixen will now focus on Europe and the MENA region with new investments.

To provide higher quality services to users, the company will also focus on technology infrastructure, as well as innovations such as the Musixen token and avatar experience, as it seeks to become the music entertainment center of the metaverse world. He says he will strive to crown his own ecosystem with global growth.

New dimension in virtual entertainment

Çağrı Bozay, Founder and CEO of Musixen, says the music industry is rapidly changing with technological developments.

“As a platform, we’re trying to adapt quickly during this time. To date, we’ve reached 1.3 million downloads. There are over 7,000 artists within our organization,” Bozay noted.

While bringing a new understanding of the music and entertainment industry with a globally interactive digital experience, Bozay says Musixen is creating a new ecosystem by enabling musicians around the world to earn money through different revenue models on their journey to success.

“We will take important steps towards our goals with the new investment round. In the medium and long term, we want to accelerate our growth in Europe and the MENA region and make Musixen one of the first brands to come to us. spirit when it comes to music and entertainment,” he said.

“While digitally preparing industry players for the future with innovations such as Virtual Reality, Avatar Experience, Musixen Token in the long term, our biggest goal is to become the leading player in the industry of music/entertainment globally.”

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