India’s first non-film music platform, Damroo is a regional and independent music streaming platform. The platform has raised an undisclosed amount in seed round funding.
The early-funding round witnessed the participation of a diverse group of investors, such as Marwari Catalysts, an Indian startup accelerator, and the esteemed poet-litterateur Dr. Kumar Vishvas. Additionally, notable figures like Jagadguru Nimbarkacharya Shriji Maharaj, Umed Singh Rao and Ratnawali Singh joined the round.
Damroo envisions to leverage the fresh capital towards platform upgradation & performance, branding and promotion, user acquisition and retention, content creation, team building & structuring.
“Despite the entertainment and music industries scaling fresh heights, there is persistent struggle among independent talents in our country as they are deprived of a level-playing field due to streaming giants’ populist approach, the regional audience too, which is buzzing with aspirations and resources, remains very poorly served. As I always say -the richest Bharat is poorly served and we are here to fill this void. We are encouraged by the faith of all investors shown in Damroo” quoted Ram Mishra, Damroo’s Founder & Managing Director.
Sushil Sharma, Marwari Catalysts’ Founder, a startup accelerator with more than 60+ portfolio startups, added, “We have been instrumental in the growth of country’s D2C space by strengthening startups with products built by Bharat, for Bharat. We relate with Damroo’s ethos to cater specifically to artists, audience and brands/businesses alike in the regional and vernacular space. Mr Ram’s diverse experience of 20 years in the Indian music industry further ticks the critical founder-business fit aspect. Furthermore, this investment is a manifestation of our undeterred zeal to support home grown brands amid the prevailing competitive scenario.”
Dr. Kumar Vishvas, poet and litterateur, added by emphasising on the significance of nurturing and endorsing talent at the grassroots level. “It is a matter of enormous satisfaction to back a platform where regional artists, music lovers and localised businesses across linguistic boundaries get access to exactly what they seek,” said Dr. Kumar.
Damroo aims to advance a 360 degree ecosystem exclusively designed for regional and independent artists. Artists can earn, grow and retain copyright ownership of their music in the most transparent environment. This ensures every artist to flourish without hidden agendas, allowing their creativity to thrive in the most authentic way possible. It’s home to myriad musical genres like folk, classical, devotional, contemporary and so on. Damroo India is functional in the domain of sync licence rights too.
