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Damroo, an India-based regional and independent music streaming app has raised an undisclosed amount in series seed round funding led by Marwari Catalysts and from poet-litterateur Dr. Kumar Vishvas.
The round also saw the involvement of revered Jagadguru Nimbarkacharya Shriji Maharaj, along with corporate leaders Umed Singh Rao and Ratnawali Singh.
The startup plans to use the raised funds towards platform upgradation and performance, branding and promotion efforts, user acquisition and retention initiatives, content creation, and team expansion.
Speaking about the fundraise, Ram Mishra, Founder & Managing Director of Damroo said, “Despite the entertainment and music industries scaling new heights, independent talents struggle in our country. While they are deprived of a level-playing field due to streaming giants’ populist approach, the regional audience too, which buzzes with aspirations and resources, remains very poorly served. We are encouraged by all investors’ faith in Damroo.”
Commenting on the funding in Damroo, Sushil Sharma, Founder of Marwari Catalysts said, “We have been instrumental in the growth of the country’s D2C space by strengthening startups with products built by Bharat, for Bharat. We resonate with Damroo’s ethos of catering to artists, audiences, and brands and businesses.”
“Ram’s diverse and rich 20-year experience in the Indian music industry further ticks the critical founder-business fit aspect. Furthermore, this investment is a manifestation of our undeterred zeal to support homegrown brands in the prevailing competitive scenario,” Sharma added.
Further talking about the investment, Dr. Kumar Vishvas said, “India has always been identified as a culturally vibrant land home to innumerable talented artists. No matter which part of the country you hail from, no matter what your mother tongue is, music is probably in every Indian’s blood. It is a matter of enormous satisfaction to back a platform where regional artists, music lovers, and localized businesses across linguistic boundaries get access to exactly what they seek.”