Hoopr, a music licensing platform, has raised INR 4 crore in the first part of its Pre-Series A funding round. The round was led by Inflection Point Ventures (IPV) and included investments from several family offices and existing backers.
The company is also in talks with more investors to raise additional funds. After this round, Hoopr’s valuation is ₹160 crore, and its total funding has reached ₹18 crore.
Hoopr plans to use the money to grow its Hoopr Smash platform, improve products, hire more staff, and support its global expansion.
Mitesh Shah, Co-Founder, IPV said “India’s creator economy is exploding, and Hoopr’s stepped in right where people need them ~ making copyright-safe music easy to get for anyone making digital content. With so many videos coming up everywhere everyday, their licensing solution lands at the perfect moment. At IPV, we’re excited to back Hoopr. Their goal to create India’s biggest music licensing ecosystem and take it worldwide feels just right for where the industry’s headed.”
Gaurav Dagaonkar, Co-founder & CEO said “At Hoopr, our vision is to shape the future of India’s creator economy by empowering musicians, enabling brands, and driving the next wave of the digital music revolution. With 4.4x growth since inception and 300% revenue growth this year, we’re now expanding globally and unlocking new monetization models for creators and brands. Over the next five years, we aim to build the world’s most trusted and intelligent music licensing platform — one that connects creativity and commerce seamlessly while strengthening India’s position on the global music map.”
Hoopr, based in Mumbai, was founded in 2021 by Gaurav Dagaonkar and Meghna Mittal. It is a music licensing marketplace offering over 12,000 copyright-free music tracks and sound effects for creators and brands.
The platform also helps musicians earn money by giving them 50% of the licensing fees after covering the upfront costs.
Hoopr Smash helps users quickly find the right music using smart search tools, curated playlists, and easy licensing options. With just a few clicks, creators and brands can get music that is legally safe while making sure artists are paid fairly.
Hoopr has over 30,000 creators on its platform, including popular names like Chef Ranveer Brar, Ashish Vidyarthi, Tanya Khanijow, Mr. Indian Hacker, Flying Beast, and Rajesh Rawani. It also works with more than 180 brands such as Myntra, Marico, Sony LIV, Mumbai Indians, Meesho, Himalaya, and Cadbury.
The platform has partnered with major music companies like Yash Raj Films Music, Universal Music, Saga Music, Merchant Records, and Adobe. It also collaborates closely with the Indian Performing Rights Society (IPRS).
Over the past three years, Hoopr has worked with more than 300 independent artists across 21 regional labels and has paid out over ₹4.5 crore in royalties.
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