SkoogMusic Scores £560K Investment
The company behind the innovative instrument, which puts music creation into the hands of everyone, has raised its largest funding round to date.
Skoogmusic, creators of the Skoog – an interactive and educational music toy which helps children to learn, explore and have fun playing music – has raised £560,000 in funding, it’s biggest investment to date.
The new investment means that to date Skoogmusic has raised £2 million in total. The company has also used crowdfunding, with a successful £50,000 campaign on Indiegogo for pre-sales of the Skoog 2.0 device.
The company will use the investment to grow sales and marketing internationally, following deals with global distributors Tech Data in Europe and Ingram Micro in the US. The company will continue to develop its apps across coding, sampling and creative music making, translating them into eight languages for international markets.
As the company grows, Ben Schogler will become Skoogmusic CEO with Andy Gordon as Chairman. Investor Paul Murray, becomes a Non-Executive Director.
Skoogmusic now plans to extend the Skoog range, developing and launching new ‘entry level’ devices next year. Skoog currently retails in Apple stores around the world as part of the tech giant’s education programmes. These include the multi-sensory Apple Field Trips, creative learning workshops hosted for teachers and students in stores around the world; and the pioneering Apple Distinguished Educators, who showcase transformational educational technology to global audiences.
Skoog also supports Apple’s Swift Playgrounds app, allowing programmers and developers to learn to code with the Skoog cube.
Dr Ben Schögler told DIGIT: “This is another hugely exciting step for Skoog. The investment enables us to work with Apple and partners like Ingram Micro and TechData to reach more children in more countries around the world. It’s not what you play that’s important but it is crucial that you do play. And this investment means more play and more music for everyone.”
Kerry Sharp, director of the Scottish Investment Bank added: “It’s great to see the Skoog product being sold internationally and being recognised as a truly innovative musical instrument. This is a key sector for the Scottish economy and we look forward to helping the company achieve its growth ambitions.”
Andrea Young, Fund Manager at Old College Capital, the in-house venture capital fund of the University of Edinburgh, said: “We are very proud to support the ongoing global success of Skoogmusic, a business that was founded and nurtured in its early days, right here at the University of Edinburgh. We wish the team and their pioneering product every success for this exciting next phase of the journey.”