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1000TRAX Secures €1mio. in Private Equity Funding to Revolutionise the Music Industry

London, 27.12.2023 – 1000TRAX, a leading provider of copyright-free music streaming services for businesses, is pleased to announce the successful closure of  €1 mio. private equity funding round, at a pre-money valuation of €5,000,000. 

The investment round saw the participation of notable industry figures, Jesper Fineman (Gd af 13. Januar 1999 ApS), HNF Holding A/S, Vedelgart Holding ApS, Morten Christensen, as well as our distinguished artist Henrik Launbjerg and producer Mark Chemnitz.

The newly acquired funds will be strategically deployed to propel our growth initiatives. A significant portion will be directed towards bolstering our sales and marketing efforts to further accelerate our market expansion. Additionally, we plan to fortify our AI infrastructure, and to establish three state-of-the-art recording studios to substantially scale our music library.

1000TRAX is set to revolutionise the industry with its groundbreaking copyright-free and royalty-protected music streaming service. The service empowers businesses to achieve remarkable savings of up to 87% on their music expenses, all while maintaining strict adherence to copyright laws.

With a record of 350 Danish customers the first year, a recent entry into the DACH region, France, Spain and Turkey, and plans to further expand in the rest of Europe, UK, USA, and Japan, our growth is set for exponential rise.

Jesper Fineman, lead Investor (Gd af 13. Januar 1999 ApS), expressed his excitement: "Being part of 1000TRAX's journey is an exciting opportunity to revolutionise the music industry. Their unique approach blends technology and artistry, setting a new standard for copyright compliance. We're proud to support this innovative company."

Henrik Launbjerg added: "As a musician, I have experienced how little one earns from individual streams on platforms like Spotify. With 1000TRAX, I earn more in a weekend than I do from 1 mio. streams at Spotify. At the same time, restaurant owners save significantly by using 1000TRAX. It's a fantastic concept that benefits everyone involved, and a business model that I, as a musician, see great opportunity in.”

Michael Pfundheller, Founder: "From the inception, our goal has been to redefine how businesses experience and utilise background music. This investment is a testament to the dedication and vision of our team. With this support, we're poised to make an even greater impact on the industry."

Bettina van Wylich-Muxoll, CEO: "This investment is a significant milestone for 1000TRAX. It allows us to not only expand our services but also make substantial strides towards our mission of contributing to a more sustainable music industry. We're grateful for the trust our investors have placed in us, and we're excited for what lies ahead."

About 1000TRAX

Established in Switzerland in 2021 and headquartered in London, 1000TRAX pioneers in offering a copyright-free music streaming solution for businesses. With a focus on legal compliance and customer experience, 1000TRAX offers an affordable and diverse music library to commercial spaces worldwide.

1000TRAX LIMITED is a company incorporated and registered in England and Wales with company number 8644182. The registered office is located at Third Floor, 12 East Passage, London EC1A 7LP.

For media inquiries, please contact:
1000TRAX:
CEO
Bettina van Wylich-Muxoll
Tel.: +45 22704724
E-mail: bettina@1000trax.com

Press release 2023-12-28