Soundation raised SEK 7M in angel investment.

Soundation, a Stockholm, Sweden-based company operating an online music studio, completed a SEK 7M ($720k) capital investment round.

The funding was paid for by existing and new investors, including Johan von Kantzow and Kaj af Kleen, and will be used for product development and marketing.

Soundation, founded in 1998 and led by CEO Adam Hasslert, built an online platform for music recording. The company makes money by selling subscription-based access to premium features and claims to have more than 100k users registered with the service.

Prior to this round, Soundation raised $500k in angel investment in 2018.