Motorola Ventures, on Tuesday announced it's invested into digital music startup, TuneWiki. The amount of the investment was not disclosed, but Motorola was joined by new investors Intellect Capital Ventures, TeliaSonera, HillsVen Capital, Novel TMT and previous investors Benchmark Israel. TuneWiki offers its users a social media music player. Beyond a simple music player, the online application displays the lyrics of the song you're listening to and watching the video of. Originally only a Web application, TuneWiki now has apps for smartphones including iPhone, Android, BlackBerry and Symbian.
“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,” said Reese Schroeder, managing director of Motorola Ventures. “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.”
TuneWiki said it would use the investment to expand and enhance its product offerings. It hinted its new products would take advantage of the more powerful smartphones with stronger CPUSs and larger high-resolutions screens. The startup also plans to focus on the use of song lyrics in its products including an upcoming game.
