Motorola Ventures, the company’s VC arm, is leading a new round of investment in TuneWiki, the company behind the popular social media music player. In addition, four other VCs participated in the round, including Intellect Capital Ventures (TeliaSonera’s VC company), HillsVen Capital, Novel TMT and Benchmark Israel.
TuneWiki will use the new money to expand and enhance its product offerings. The idea is to take further advantage of platform capabilities and new features found in latest smartphones, including stronger CPUs, larger displays and high-resolution screens. In addition, the company will continue to focus on the use of song lyrics “in new and exciting ways” that connect music fans around the world with new products, including an upcoming mobile game.
Commenting on the investment in TuneWiki, Motorola Ventures’ Reese Schroeder said: “Music is rapidly emerging as a key feature for smartphones, and TuneWiki is changing the experience of listening to music from a solitary experience to a social one. We believe that TuneWiki has developed an innovative interactive social media player that can dramatically change the way people will listen to and interact with music.”
In other words, we could expect to see TuneWiki being integrated in the future versions of MOTOBLUR UI, or at least me thinks/hopes so. 😉