Hook Announces $3 Million Seed Investment Round Led By Point72 Ventures and Waverley Capital
"Fan-created remixes on social media are helping drive music discovery, re-discovery and virality -- but the way it's happening doesn't support rights holders," said Gaurav Sharma. "Hook solves this problem by leveraging AI to let social media users express themselves creatively with music, while rewarding artists and rights holders at the same time.
- In addition, Hook will collaborate with artists and record labels to develop technology that will unlock new revenue streams for the entire ecosystem.
- We're humbled by Point72 Ventures, Edgar and the entire Waverley team, and the incredible group of music industry investors that have chosen to support us.
- "We think the music industry is uniquely positioned to leverage cutting-edge technology such as generative AI," said Ishan Sinha, Principal at Point72 Ventures.
- We believe the team at Hook is well positioned to merge innovation with prioritizing industry stakeholders.