Icelandic music-making app Overtune raises $2 million in seed funding

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Reykjavik, Icelandic music-making app Overtune has closed a $2 million seed round.

Overtune allows smartphone users to organize beats, record vocals and share content on their social networks.

The startup says its investors include Charles Huang, founder of the Guitar Hero game franchise, and former Sony Music UK CEO and chairman Nick Gatfield.

Among the company’s new investors is the media company Whynow, founded by Mick Jagger’s son, Gabriel Jagger.

Overtune was founded in 2020 by Sigurdur Arnason, Jason Dadi Gudjonsson and Petur Eggerz Petursson.

Overtune says it’s about “democratizing music making” and bills itself as a way to create original music for social media content on platforms such as TikTok and Instagram.

On the loop-based music maker app, users can create genre-based beats or themed sound packs, such as “Nightclub in Berlin”.

Users can then program drums, create melodies, record and harmonize vocals to create social media audio content.

Overtune is the latest music-making app to raise multi-million dollar funding.

In May 2021, Rapchat, a music creation app and discovery platform for hip hop artists, closed a $2.3 million funding round led by venture capital firm Adjacent and Sony Music Entertainment.

In April 2022, social music creation platform BandLab revealed that it had raised $65 million in a Series B round, with a post-money valuation of $315 million.

“I’m delighted to have Gabriel and the Whynow team aboard Overtune.”

Sigurdur Arnason, Overtune

Sigurdur Arnason, co-founder and CEO of Overtune, said: “I am delighted to have Gabriel and the Whynow team on board Overtune.

“Within a few weeks, they impressed me with their agility and their startup spirit.”

“Traditional music apps (by excluding a lot of the content creation economy.”

Petur Eggerz Petursson, Overtune

Petur Eggerz Petursson, co-founder, added: “Traditional music apps and composition programs have only been accessible to people with vast technical and musical expertise, excluding many people from the creative economy of contents.”

“Virality on social media is powerful, but unpredictable.”

Jason Dadi Gudjonsson, overtune

Jason Dadi Gudjonsson, Co-Founder, said, “Social media virality is powerful, but unpredictable.

“With the increase in content from TikTok and Instagram Reels, the modern media format has changed.

“Overtune is designed to meet the needs of creative social media users who want the ability to create content on the fly – giving users a tool that allows them to project their own identity through sound rather than relying on songs. pre-existing when creating content.”The music industry around the world


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