Music streaming service Gaana to raise $115 million in funding
(Sourced from PTI)
Music streaming service Gaana today said it will raise USD 115 million (about Rs. 750 crore) from Chinese internet giant Tencent and Times Internet in its latest round of funding. The funds will be used to invest into technology, to use artificial intelligence (AI) for personalizing music experiences for every consumer, Gaana said in a statement Here's more about it.
"Tencent will be a great partner to help us enable India to access and enjoy unlimited music at their fingertips," Gaana CEO Prashan Agarwal said. Besides, the funds will also be utilized to further develop its subscription product for paying users, and to develop aligned music experiences for consumers. Gaana was launched in April 2010 and in December'17, it crossed 60mn monthly active users.