The News

MXP4 Interactive Music secures 6.5 million dollar investment for revolutionary new digital music technology

08/03/2007

Solid first-round investment from Sofinnova Partners and Ventech enables Mxp4 Interactive music to develop its groundbreaking digital audio technology and underwrite its commercial development.
 
Paris, March 8, 2007 – MXP4 Interactive Music is shaking up the digital music world with its new, interactive digital audio format; music professionals who have used the technology are loudly proclaiming it a success.
 
Founded in June 2006 by Sylvain Huet, Philippe Ulrich and Gilles Babinet – a trio of technology whiz kids with a passion for music – MXP4 Interactive Music’s new digital audio standard allows artists, professionals and listeners to add an interactive, non-linear dimension to their music. 
 
“This revolutionary technology adds a new interactive dimension to music,” explains Ulrich, co-founder and President, Mxp4.  “Listeners will now find in recorded music the same atmospheric harmonics and fluid musical interpretation as they would at a live concert.”
 
Babinet, co-founder, Mxp4, adds “By reviving tested technology and building a new, secure creative workspace for artists, Mpx4 offers a fresh take on the value-added digital musical technology of the future.”
 
The investment from Sofinnova Partners and Ventech will enable Mxp4’s three founding partners to consolidate their team and develop their new technology, whilst at the same time expanding into both French and international markets in 2007.
 
“This first-round investment is critical; it validates Mxp4’s dynamic, valuable, and brand new solution to the problems faced by the world’s digital music industry,” states Huet, co-founder and Managing Director, Mxp4.
 
“It is rare to see a digital music start-up that isn’t simply a reheated version of popular American websites where users share or download music. Mxp4’s interactive music technology is an innovation with clear international potential,” adds Alain Rodermann, Partner at Sofinnova Partners.
 
For Eric Huet, General Partner, Ventech, “Mxp4 is one of the most promising start-ups we have seen in recent years; the degree of innovation is unparalleled in a digital music market which is huge.  Mxp4 heralds a new era for music fans, for record companies, and for any number of online communities.”
 
As part of this first-round investment, both Rodermann and Huet are to join Mxp4’s Board of Directors.
 
About Mxp4 Interactive Music
Founded in 2006 by Sylvain Huet, Philippe Ulrich and Gilles Babinet, Mxp4 Interactive Music has developed a revolutionary interactive digital music format which allows artists to create music in a secure workspace, and allows listeners to enjoy music in brand new ways.
 
About Ventech
Ventech is a leading French venture capital firm investing in early stage companies in the IT & communications and biotechnology sectors in France and Continental Europe. Currently managing funds totaling €300million, Ventech’s team targets ambitious projects which have the potential to become global leaders and uses its experience in operations and private equity, start-up companies and high-growth businesses to generate results.
For more information, log on to http://www.ventech.fr/
 
 
About Sofinnova Partners
Founded in Paris in 1972, Sofinnova Partners is one of Europe's leading independent venture capital firms. With €900 million under management, Sofinnova Partners invests in start-ups and early-stage companies in information technology and life sciences. Its investment strategy consists of investing early in teams and projects with high potential, most often acting as lead or co-lead investor. Sofinnova Partners also benefits from a long-established relationship with its sister company in San Francisco, Sofinnova Ventures. Sofinnova Partners’ team consists of 12 professionals who bring market insight and technical expertise to portfolio companies
 
 
Contacts :
 
MXP4 :
presse@mxp4.com
Sofinnova Partners :
Isabelle Jourdain – TS2C
Tel: +33 (0)4 50 32 36 01
Mob : +33 (0)6 87 71 20 95
Isabelle@ts2c.com
  Ventech
Eric Huet
Eric.Huet@ventech.fr
Jean Bourcereau
jean.bourcereau@ventech.fr