• Open Scout
  • Posts
  • Software for Local Businesses & AI Music

Software for Local Businesses & AI Music

August 10, 2023

👋 Welcome to the 31th edition of Open Scout!

If you enjoy reading these newsletters, please be sure to share this link with others who are interested in startups, tech, and investing. If you haven't already, be sure to subscribe to "Open Scout" and follow us on “X”.

Startup Spotlight

Founded: 2020, US

Product: Subscriptions for neighborhood businesses.

...

In a world where bustling neighborhoods are often defined by their local businesses, consider those moments that bring a smile to your face – the aroma of freshly brewed coffee wafting from the corner cafe, the vibrant colors of the flowers gracing your home, and the comfort of your favorite restaurant, where the owner knows your name. These are the invaluable experiences that small businesses infuse into our lives, rendering our neighborhoods unique and vibrant.

However, the economic landscape has thrown its fair share of challenges at these local gems. Rising costs and fluctuating markets have compelled even the most cherished businesses to make tough decisions, often affecting their ability to provide the same level of service that drew us to them in the first place. This is where The Third Place emerges as a guardian angel, working tirelessly to ensure that local businesses not only survive but thrive.

At its core, The Third Place is a software platform that acts as a bridge between independent local businesses and the communities they serve. The platform offers an array of tools that empower businesses to create revenue streams that attract new customers and turn them into loyal regulars.

The Third Place has a number of features that help businesses build community, including:

  • Subscriptions: Businesses can create subscriptions that give customers access to exclusive benefits, such as discounts, early access to events, and free merchandise.

  • Memberships: Businesses can create memberships that give customers access to a variety of amenities, such as a dedicated workspace, discounted food and drinks, and invitations to exclusive events.

  • Events: Businesses can use The Third Place to create and manage events, such as workshops, classes, and networking events.

  • Loyalty programs: Businesses can create loyalty programs that reward customers for their repeat business.

Founders: Vivien Sin (CEO) - ex-Senior Product Manager @ LinkedIn; Glen Wang (CTO) - ex-Districts Tech Lead @ Khan Academy

Funding (public sources): $3.23M Seed Round in 10/2021.

Notable Investors: Y Combinator, Goodwater Capital, F7 Ventures, Alumni Ventures, Terrence Rohan, Benjamin Narasin, Dylan Field

Founded: 2022, UK

Product: AI-powered mixing and mastering platform1 for musicians, producers and content creators.

...

RoEx's journey began with a single, persistent issue that has long plagued the music industry: the intricate process of mixing and mastering music. This vital step in the production journey often turned into a laborious and time-consuming task, overshadowing the innate joy and creativity that music-making entails.

At the heart of RoEx's product line is Automix (How RoEx Automix works under the hood), an AI-powered mixing and mastering platform designed to deliver a professional and balanced mix in just minutes. Additionally, RoEx offers Mix Check Studio, which uses AI to scrutinize your mixes or masters and provides actionable feedback to help you refine your work.

With RoEx's AI mixing technology, there's no need to send your tracks elsewhere for mastering. The end product is ready for distribution straight from the platform.

Quick Take: AI-assisted music production has witnessed notable growth lately, introducing tools that automate diverse production aspects. Despite potential advantages, skepticism endures among music experts due to fears of job displacement, doubts about AI's capability on subjective tasks, and distrust in AI recommendations due to opaque reasoning. The tools' success hinges on three factors:

  1. Result Precision and Quality: AI-generated audio must meet high standards for professional use. Current models struggle, hindering their adoption.

  2. Integration with Workflows: Seamless integration into established workflows is vital for tool acceptance, respecting professionals' efficiency practices.

  3. Trust-Building Interaction: AI tools are met with resistance due to their "black box" nature, lacking transparency and control for desired outcomes. (Source)

Founder: David Ronan (CEO) - ex-Head of Research @ AI Music (acquired by Apple Inc. in January 2022)

Funding (public sources): $500K Seed Round in 1/2023.

Notable Investors: Haatch

Which early-stage startup should we feature next in our newsletter? Send us a reply!

Money Moves

  • Glaive AI secures $3.5M in Seed funding to democratize AI access via small, tailored language models. Led by Spark Capital, with participation from Village Global and Amjad Masad (Replit CEO).

  • Austin, Texas-based Osano raises $25M in Series B led by Baird Capital with Jump Capital, LiveOak, NextCoast and TDF. Osano focuses on data privacy management for businesses.

  • Tel Aviv's Sweet Security has raised $12M in Seed funding for its cloud security solutions. Glilot Capital Partners led the round, joined by CyberArk Ventures and notable angel investors including Gerhard Eschelbeck, a former CISO at Google and Travis McPeak, who led product security at Databricks.

  • AI firm Parcha, led by Puerto Rican entrepreneurs Miguel Ríos and AJ Asver, secures $5M Seed funding. Initialized Capital leads the round with support from Kindred Ventures, Garry Tan, Amit Agarwal, Bradley Horowitz, and other notable investors. Parcha develops AI agents for regulated banking tasks.

Power your startup with TulaCo's free Startup Catalyst Pack, a tailor-made kit for qualified founders and early-stage teams. Secure your appointment to get started, and mention 'Open Scout'.

Library

Who's Hiring

Sign-up for alerts to be matched with tailored opportunities.

Investors - Join our private deal flow network for the hottest startups!

Want to promote your brand to founders, investors, and executives? Email [email protected] with subject "Open Scout Ads" for sponsorship details.

Until next time,