Smule, the fast-growing music social network app, is set to expands its operations in India after securing a “strategic investment” of $20 million. The round was led by Times Bridge, the global investment arm of Indian media company The Times Group.
The new round of investment comes after Smule raised $54 million in May 2017, led by Chinese technology giant Tencent. It will help the app, which currently boasts 50 million monthly active users, expand its footprint across India, its second-largest international market.
Times Bridge will also guide Smule in engaging India’s multi-lingual music culture.
Jeffrey Smith, CEO and co-founder of Smule, said:
“Indian audiences are passionate about connecting through music. We want to enhance those connections in an authentic way and we are thrilled to partner with Times Bridge to marshal the best of The Times Group on Smule’s behalf. Smule is about empowering our community to do more of what they love – from singing with their favourite celebrities to collaborating with friends to discovering new music. We’re thrilled to find a partner that both shares our vision and has the cultural insights and market reach to deliver it.”
Rishi Jaitly, CEO of Times Bridge, added:
“Times Bridge’s mission is to bring the world’s best ideas to India and share India’s best insights with the world. Smule is a deeply original, bold idea with a mission of changing the way the world experiences music. Our investment will advance Smule’s music mission across the Indian subcontinent and unlock the creativity of many millions along the way. We are delighted to be working with a partner who approaches India with the empathy, conviction and optimism that the Indian market warrants.”