NEWS & VIEWS

Global private equity and venture capital news and research

Israel’s Carmel Ventures leads $4m round for “iTunes of sheet music” Tonara

1 Aug 2012

Tonara, which has developed an interactive sheet music app, has secured $4m in Series A funding led by Israel-based Carmel Ventures.

Follow-on investment came from existing seed investors including Index Ventures, Lool Ventures and angel investors including Eilon Tirosh and Rami Lipman.

The funding will enable Tonara to invest in ongoing technology innovation, secure additional partnerships with sheet music publishers, and pursue strategic marketing initiatives, it said.

The company has developed the world’s first interactive sheet music application, with the aim of becoming the “iTunes of sheet music”.

“We started Tonara with the idea that the way people learn, practice and play music will change considerably with the rise of tablet technologies and new music distribution channels,” said Yair Lavi, CEO and founder of Tonara.

“This round of funding, along with the Hal Leonard partnership, supports our vision and firmly positions us as the leading provider of interactive digital sheet music.

“We enable musicians of all experience levels to have a fun and interactive experience while playing their favorite songs.”

Rina Shainski, general partner of Carmel Ventures and recent edition to Tonara’s board added, “Tonara’s disruptive technology was designed to transform the music-learning and practicing experience for amateur and professional musicians while bringing intelligent interactivity and social sharing to the music-playing community.

“Tonara is generating excitement in the broad music ecosystem and we’re delighted to support the company in fulfilling its vision.”

With over $600m currently under management, Carmel’s investments are focused primarily on early stage companies in software, internet, digital media, communications, semiconductors, and consumer electronics.

It is an affiliate of the Viola Group, the largest technology focused private equity group in Israel.

Copyright © 2012 AltAssets

FUNDRAISING & INVESTOR RELATIONS

Keywords: , ,


Legals & Terms of UsePrivacy Policy


AltAssets is registered as a trademark of Investor Networks Limited (06695690).
Registered Office: Zetland House, 5-25 Scrutton St, London EC2A 4HJ
Content is © AltAssets 2000-2014