In January 2014, Psonar successfully raised £201,700 to extend the app's functionality, to maintain and built partnerships and to identify business development opportunities.
Just as mobile phone top-ups revolutionised the world of telecommunications, so 'jukebox-in-the-cloud' Psonar hopes to have a similar effect on the growing music streaming industry with their unique pay-per-play model.
The business is headed up by a seasoned management team with a strong background in business development, software engineering, corporate finance and the music industry.
The lead investors in this round were angels from the FSE Investor Network, AngelLab and Angels Den, alongside SyndicateRoom members.
Where are they now?
Psonar has since closed a second funding round on SyndicateRoom. To read more, click here.