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Music tech firm Roli scores $27m in Series B funding

Roland Lamb

Music technology company Roli has closed a $27m Series B funding round led by Foundry Group.

The round also drew support from London-based BGF Ventures and San Francisco-based Founders Fund, who joined the round alongside previous investors; Balderton Capital, FirstMark Capital, Index Ventures, Horizons Ventures and Universal Music Group.

A statement said the newly procured funds will be used to accelerate company growth and expand in new markets.

Roland Lamb, founder and CEO of ROLI, said in a statement: “Music is a source of joy, and we want to make music creation more connected and accessible for everyone. The success of the Seaboard has shown that people want musical devices that are elegant, advanced and open to all — and as easy to use as a smartphone or tablet.

“We’re thrilled to be partnering with some of the world’s most experienced investors as we revolutionize how people express themselves through music. And as we continue this journey, we are looking for everyone — from coders and makers to composers and musicians — to join the ROLI team as we change the shape of music,” he continued.

‘A first’

Today’s announcement is credited with being Foundry Group’s first investment outside the US.

Ryan McIntyre, partner at Foundry Group, said: “We’ve had the opportunity to partner with companies at the forefront of Connected Health, Connected Play, and other areas where the intersection of physical and digital technologies is transforming the way we live.

“We’re tremendously excited to be working with Roland and the ROLI team to transform and connect how people make music. The Seaboard is a truly expressive new instrument, and we believe this is just the first step in a breakthrough roadmap for Connected Music,” he concluded.