Audoo’s addition to the incubator follows last month’s news that music manager and Spice Girls creator Chris Herbert and music industry heavyweight Rick Riccobono, have joined Audoo’s advisory board.
The program will see Audoo working closely with Abbey Road Studios and Universal Music Group to enhance its offering and receive bespoke mentorship.
Founded in 2015, Abbey Road Red has assisted 13 businesses leveraging Artificial Intelligence, immersive audio-visual projection and smart production assisting tools.
The start-ups now have a collective valuation of $150m.
Audoo was launched in 2018 to monitor and distribute music royalties by leveraging a smart plug-device which tracks the music played in commercial spaces such as bars, shops and gyms.
It was created by CEO and founder Ryan Edwards after he discovered his Top 10 hit single was being played in a London department store, but he was never paid for it.
Audoo is also backed by high profile investors including Greg Gormley (Founder of Bink), Luke Heron (co-founder and CEO of Testcard), Tim Davies (Director of Ventures and Chief Innovation Officer of Co-op), Ed Matthews (Investment Banker), and Marcus Watson (CEO of Adoreum).
“Audoo’s solution for improving public performance royalty reporting could have a real impact benefiting both songwriters and PROs – and we are happy to help them navigate the journey.”
Isabel Garvey, Abbey Road Studios
“Audoo’s solution for improving public performance royalty reporting could have a real impact benefiting both songwriters and PROs – and we are happy to help them navigate the journey,” stated Isabel Garvey, Managing Director at Abbey Road Studios.
“With Abbey Road Red, we’re pushing the boundaries of what is possible across the value chain through constructive innovation, and couldn’t be happier to be a part of Audoo’s journey.”
Edwards added: “It’s such a privilege and honour to be recognised by an organisation as highly esteemed as Abbey Road Red.
“It’s such a privilege and honour to be recognised by an organisation as highly esteemed as Abbey Road Red.”
Ryan Edwards, Audoo
“We envision a fruitful relationship with Abbey Road Red, and with their assistance, propel the business to new heights.”Music Business Worldwide
