Music licensing platform Hoopr has secured Rs 4 crore in the first tranche of its extended pre-Series A round, led by Inflection Point Ventures (IPV) with participation from several family offices and existing investors.
The startup is also in advanced discussions with additional investors to expand the round further. This funding values Hoopr at Rs 160 crore post-money and increases its total capital raised to Rs 18 crore.
According to the company’s press release, the new capital will support the continued growth of Hoopr Smash, enhance product innovation, expand its team, and accelerate its global footprint.
Founded in 2021 by Gaurav Dagaonkar and Meghna Mittal, Hoopr operates a music licensing marketplace featuring over 12,000 copyright-free music tracks and sound effects for creators and brands. The platform also provides income opportunities for musicians by sharing half of the licensing fees after covering initial costs.
Hoopr Smash includes advanced discovery features, curated playlists, and fast licensing tools that help users find the right track effortlessly. By offering legally safe music in just a few clicks, the platform enables creators and brands to lift the quality of their content while ensuring transparent artist compensation.
Hoopr has onboarded more than 30,000 creators—such as Chef Ranveer Brar, Ashish Vidyarthi, Tanya Khanijow, Mr. Indian Hacker, Flying Beast, and Rajesh Rawani—along with over 180 B2B clients, including Myntra, Marico, Sony LIV, Mumbai Indians, Meesho, Himalaya, and Cadbury.
The Mumbai-based company has forged key partnerships with Yash Raj Films Music, Universal Music, Saga Music, Merchant Records, and Adobe, while collaborating closely with the Indian Performing Rights Society (IPRS). Over the past three years, Hoopr has worked with more than 300 independent artists across 21 regional labels and distributed over Rs 4.5 crore in royalties.
