Raue LLP advised idagio, a streaming service specialising in classical music, on a financing round of more than ten million euros. The company is using the funds to finance its expansion into North America, one of the most important markets for audio streaming. The capital increase was fully subscribed by existing shareholders.
idagio is a Berlin-based start-up founded by Till Janczukowicz and Christoph Lange. The company with 70 employees has been offering a comprehensive repertoire of classical music via a streaming service in 130 countries since 2015. Since its foundation, the start-up has received capital worth more than 20 million euros from investors such as Tengelmann Ventures, b-to-v and Macquarie as well as several business angels. In contrast to conventional streaming services, idagio charges according to the number of seconds the user listens to.
(5 November 2018)