Motorola Ventures, the corporate VC arm of Motorola, placed a strategic investment in Israel’s TuneWiki Series B (announced Feb 8 2010). TuneWiki’s main investor Benchmark Israel also participated in the round, along with a few new investors: Intellect Capital Ventures, HillsVen Capital and Novel TMT. Tunewiki will use the proceeds to expand and enhance its product offerings for leading mobile platforms and the Internet.
TuneWiki provides an online service consisting of a community-created lyrics synchronization database and an online/mobile community. It allows its users to edit lyrics in the database, as well as use forums, import blogs, and participate in chat rooms. Since its inception in 2007, the company has launched desktop, online and mobile applications around music and lyrics.
In the official press release TuneWiki said it will continue to focus on the use of song lyrics and new ways to connect music fans around the world, including a video game.
Rani Cohen, CEO of TuneWiki said:
“Teaming up with a global company like Motorola is very exciting for us,We are passionate about connecting people through music, and having our applications running in many countries with different languages will allow our users to explore the world of music and better understand its meaning as part of a vibrant and engaged community.”