Electric Jukebox closes £1.5m Series A, brings total raised to £7m

Robbie Williams, Ayda Field, Electic Jukebox

Electric Jukebox has announced the closure of a £1.5m Series A round, bringing the total raised to date to £7m.

The startup drew support from a long list of investors including Mark Gretton, former CTO at TomTom; Sir Malcolm Williamson, senior independent non-executive director at Aviva; and David Munns CBE, former worldwide vice-chairman and CEO of North America, EMI.

YOLO Leisure and Technology, an AIM listed company, also contributed to the round.

Rob Lewis, CEO, Electric Jukebox told Tech City News: “The last tranche of investment from YOLO brings total funding for the launch of Electric Jukebox to £7m, helping us to bring music streaming to the masses by making music streaming as simple as a radio or CD player.

“As the only British music streaming player backed by Robbie Williams, Stephen Fry, Alesha Dixon and Sheryl Crow, we’re excited to shake up the market. Now we can make music streaming accessible to all,” added Lewis.

Electric Jukebox is a hardware device which plugs into a TV and uses voice recognition to stream music tracks without the need to pay a monthly subscription fee.

First announced at the Baftas last year, the device was expected to have launched around the following Christmas. The launch date was then reportedly pushed back to Easter 2016.

The London-based firm now says it will use the new funds to launch its product, which seeks to rival the likes of Spotify.