The AI music startup space is booming.
CAFCIa London-based music composition company, acquired two music technology companies, MXX And WiSLas the company seeks to develop what it calls “the ultimate creative AI ecosystem”.
The acquisition came nearly a year after the AI-powered platform that composes, arranges, orchestrates and produces original music, spear a seed funding round of £4 million (approximately US$5 million).
DAACI, established in 2017, uses music composition technology that generates musical elements and textures in real time, meeting the specific requirements of creators.
Instead of relying on pre-recorded tracks or edited samples, DAACI’s innovative approach enables the creation of new works through infinitely generated music.
DAACI’s acquisition of MXX and WiSL comes as the company now holds 60 granted patents, has filed a further 20 patents and now employs 65 team members, generating an annual turnover of £4.88 million.
MXX has developed and patented a range of artificial intelligence technologies that are revolutionizing the connection between fans, artists and their music.
“We are moving forward in collaboration, creating an ecosystem that integrates three decades of experience and research and bridges the gap between static and reactive music creation.”
Rachel Lyske, DAACI
MXX’s AI music editor has the ability to adapt tracks to match the length of specific images and videos, aligning with beats, drum fills and section boundaries. The smart music editing offered by MXX can integrate with any user-generated content (UGC) video creation application, introducing enhanced levels of musical flexibility and fan engagement, DAACI said.
Meanwhile, the WiSL platform streamlines the process of finding, editing, auditioning, and licensing music for various types of content. The platform claims to accomplish what used to take days or weeks in hours, minutes or seconds.
The platform also serves as a global marketplace for all music, based on a suite of artificial intelligence tools that simplify the tasks of music discovery, editing, auditioning and licensing.
Financial terms of the acquisitions were not disclosed.
Through these agreements, DAACI claims to propel the company further into the future of content creation. This breakthrough allows artists and composers to meet any creative brief, customizing compositions to perfectly fit various experiences and occasions in gaming, digital worlds, XR or VR, added the society.
“This is a defining moment for DAACI. We are moving forward in collaboration, creating an ecosystem that integrates three decades of experience and research and bridges the gap between static and reactive music creation.
Rachel Lyske, DAACI
DAACI celebrated the acquisitions through an industry event at Abbey Road Studios in London, where the company held demonstrations.
“This is a defining moment for DAACI. I am delighted to welcome MXX and WiSL to the team. We are moving forward in the collaboration, creating an ecosystem that integrates three decades of experience and research and bridges the gap between static and reactive music creation,” said Rachel Lyske, CEO of DAACI.
Lyske said the company’s ultimate goal is to channel its technology ecosystem “to create new avenues for talented individuals to express themselves.”
“Whether you’re a seasoned professional, budding creative or anything in between, you can benefit from the processes and creative options generated by our system. I would like to thank Abbey Road Red, the DAACI, MXX and WiSL teams and everyone involved for their hard work and commitment. I am excited about the opportunities these acquisitions present,” added Lyske.
Julian Goodkind, CEO of WiSL, said, “We are thrilled to join DAACI and its team on this exciting journey. They are at the forefront of this evolution and together have formed a unique and robust ecosystem that truly amplifies the growth of music creators and content creators.
Goodkind also underscored the critical importance of the ethical adoption and use of AI technology to ensure that songwriters, artists, rights holders and industry professionals remain the driving force. driving force at the heart of the music industry.
“WiSL remains committed to its goal of creating an access and discovery marketplace for all music, driven by a suite of artificial intelligence tools supported by the music and content creation industry, so that together we can create a new industry standard,” Goodkind continued.
Simon White, CEO of TMC2 Venture Studio, which has invested in all three companies, said, “We have an outstanding track record in groundbreaking adaptive AI technologies for music and media and are excited to continue our journey into the part of the world’s ultimate creative AI ecosystem.
DAACI is stepping up its efforts on AI as part of an industry-wide push to adapt to the changing dynamics of how music is created.
Tech players like Sam Altman, CEO of ChatGPT maker OpenAI, recently called for AI regulation in the United Stateswhile European lawmakers are about to launch “the first rules of the world” on AI.
These efforts are part of a recent boom in popularity of AI-generated songs with vocals that mimic those of real artists. These developments have recently caused controversy in the music industry, particularly on copyright protection.
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