Mind Music Labs secured $650k in more capital investment

Mind Music Labs, a Stockholm, Sweden-based company manufacturing a smart guitar, announced in a press release securing SEK 6M ($640k) in capital investment.

The funding was provided by existing investors, including Navare Invest, Lars Bergström, Ludvig Linge and Soläng Invest, which matched a SEK 3M capital funding made by Sweden-state investment company Almi invest.

The money will be used to strengthen the development team and to improve the marketing and business development activities.

Mind Music Labs, founded in 2014 by CEO Michele Benincaso, is manufacturing Sensus, world’s first smart guitar build by Strativari violin builders. Sensus is a real wooden guitar build for the 21st century as a true IoT device which can receive, process and share music and data while playing.

Prior to this deal, the company has raised almost $1M in venture capital.