Audio player VOX raised next round of financing from AVentures Capital, Torben Majgaard and TA Venture

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18.04.2014 Posted in News No Comments

International venture fund AVentures Capital, Torben Majgaard (founder of the international outsourcing company Ciklum) and venture fund TA Venture invested in a follow-on seed round in VOX audio player maker Coppertino.

The amount of the current follow-on round with the previous investor AVentures Capital, and new Torben Majgaard and TA Venture has not been disclosed, as the company is in negotiations with other investors. The total amount raised will be announced at a later date. AVentures Capital was an investor in Coppertino in the seed round in mid-2013.

“VOX is a versatile audio player and the most popular one available on Mac today,” said Ivan Ablamskiy, co-founder of Coppertino. “It builds its own music playback library. After installation, the listener gets automatic access to all existing iTunes libraries. VOX can also play music files of any format. This year we will launch VOX on the iOS and Android platforms.” Coppertino’s founders believe in a vision of VOX as an audio player that can provide listeners with any music they want anywhere in the world.

Within six months since its launch, the VOX app has been downloaded more than 500,000 times. VOX has already begun integration with the leading music streaming services such as SoundCloud, Deezer, Spotify, Rdio, Grooveshark, Jamendo and Aupeo (with these companies agreements were reached). Also, the company has already negotiated with performers such as Deeb, London Elektricity, Moby and ATB to consider establishing individual partnerships with artists and musicians. “Dmitry Boldyrev, co-founder of the legendary Winamp player, has recently joined the Coppertino Advisory Board. This, and the investment secured, will let us move the product to the new level”, said Peter Bondarevsky, co-founder of Coppertino.

The Coppertino company is incorporated in the US, while its R&D center is located in Ukraine.

Torben Majgaard is the founder of the IT outsourcing company Ciklum, which specializes in software development. With 2,500+ employees, Ciklum is one of the largest IT companies in Ukraine and Eastern Europe. Over the past 20 years Mr. Majgaard has founded 8 other companies, gained extensive experience in the IT-sector and spoken regularly at IT-summits and conferences around the world (including ETRE, the Nordic IT Forum, and the Central and Eastern European IT Outsourcing Summit).

AVentures Capital (www.aventurescapital.com) is a venture capital fund. Its target investment sectors include consumer internet, e-commerce (in Ukraine, Russia and the US) as well as software, mobile, gaming and other digital-related projects with global prospects. According to its mandate, the fund will invest most of its capital in companies with R&D in Ukraine or Russia. The managing directors of the fund are Yevgen Sysoyev and Andrey Kolodyuk. For further information about fund transactions or investments, please contact the AVentures team at pipeline@aventurescapital.com

TA Venture (http://www.taventure.com) is a $50 mln venture capital firm, investing globally with special focus on Ukraine and CEE countries, and in emerging markets like India, Brazil, and China. TA Venture’s current portfolio comprises 51 company at different stages of development, including SumUp, Auctionata, AdoreMe, Bravofly, NU3, and others. Recently, TA Venture exited from WeHostels, Spunk Mobile (Qubecell) and Little Eye Labs. Contact details: Tetyana Oliynyk, tetyana.oliynyk@gmail.com

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