Delhi-headquartered music distribution, publishing and marketing company Madverse Music Group has closed its first institutional funding round, led by Ahdritz Capital, the investment vehicle of entrepreneur and the founder-chairman of the Kobalt Music Group Willard Ahdritz.
The round—through which Madverse has raised an undisclosed amount—also saw participation from Mohnish Sani and Suraj Sani from US-based SumoSan Ventures; Ashish Jain and Sidharth Kohli from Indian consulting firm 10X Global; and Vijay Sajjanhar from UAE-based investment company Marigold Capital. The funds will be used to expand Madverse’s AI-powered technology, rights management, distribution, and artist services worldwide.
The enterprise, which was founded in 2023 by CEO Rohan Nesho Jain, currently represents over 200,000 independent artists and labels from more than 45 countries, whom have cumulatively surpassed 3b streams. Among the acts using its services are electronic music producers Nucleya and Karan Kanchan, Hindi film playback and pop singers Neeti Mohan and Sukriti-Prakriti, sitar player and composer Rishabh Rikhiram Sharma, and rapper Arpit Bala.
“Madverse allows artists to maintain independence, without sacrificing autonomy or control over their work and brand. I’m thrilled to back them as they look to expand globally,” says Ahdritz, who will join its board of directors upon the completion of the transaction.
This isn’t the first Kobalt-related tie-up for Madverse. In January, it announced that Kobalt would be providing its songwriters, composers and producers with global publishing administration and royalty collection, as well as metadata and sync services.
