A significant challenge in the music scene is the short-lived nature of performances. As per PwC, music in physical formats is in decline, resulting in a downward trend in the generated revenue. At the same time, the revenue of music available in digital formats is estimated to surge to 80.7% in 2027 from 74.3% in 2022.
Making use of this growth, UK-based Setmixer is a platform that allows artists to record and mix their live performances with studio quality. Now, the company has secured $760K in seed funding led by Raw Ventures.
Setmixer will use the proceeds of this round to launch their AI-assisted mixing process, which creates a perfect result for instant releases and prevents live performances from being lost for life.
AI-assisted music mixing tool
Founded by Pascal De Mul (ex-Spotify and Deezer employee) in 2021, SetMixer works with the mission to become the primary release mechanism for music, enabling creators to record and release music many times per week, on any platform, without additional expenses and costly delays.
The company creates the unique opportunity for live performances to be recorded in full multitrack studio quality and mixed through their instant automix process. Its smart recorder is permanently connected to the mixing desk of partner venues, ensuring that every performing artist is captured in up to 64-channel studio quality.
Setmixer aims to empower artists and record labels to generate future revenue while allowing fans, both those in attendance and those not present for the original performance, to experience the magic of the live set, and the energy of songs played live.
In 2023, Setmixer recorded over 10,000 hours of live music in full multitrack studio quality, equivalent to 1.15 years.
Pascal de Mul, founder and CEO of Setmixer, said: “This milestone is a testament to the unwavering dedication of our remarkable team at Setmixer, and it’s also a nod to the extraordinary community of artists who have played their hearts out for their fans in 7.4 million live music performances worldwide. Our mission continues: to bring Setmixer’s live music recordings to every venue in the UK and beyond, empowering artists to share their performances effortlessly.”
Victoria Palatnik, managing partner at Raw Ventures, said: “Raw Ventures’ investment in Setmixer, alongside with the support of VGC Partners and a group of angels, aligns with our dedication to support disruptive MediaTech companies. Our commitment to the winner of the first Global MediaTech Pitch Day, selected from a pool of over 400 startups from 45 countries, is rooted in a shared vision of harnessing technology to foster deeper connections between artists and consumers. By backing Setmixer, we support their aims to expand and reach to more venues across the UK and eventually, internationally.”
