Melobee raises SEK 9M for launching a music streaming solution.

Melobee, a Stockholm, Sweden-based startup working to launch a music streaming solution, closed a SEK 9M ($1.13M) pre-seed investment round.

The money comes from local angel investors, including Andreas Carlsson and Greger Hagelin.

Melobee, founded in 2017 by Mats Wahlström and led by CEO Edward Cederlund, is working to develop a platform where artist can upload their work and users can listen to music for free. The company aims to become a promotional tool for artists and intends to make money by adding premium features for which they will charge. Melobee expects to launch at the end of 2017 and claims to already have 5,000 artists in 60 countries on the platform.